Weil Gotshal & Manges has frozen its salaries for newly-qualified (NQ) lawyers at £90,000 this year after last year’s 20% boost.
The firm is set to keep all pay bands static. Three-year qualified lawyers at the firm currently take home £144,660.
Despite not making any changes to its pay scale, the firm's NQ rates still make it one of the top payers in London, in line with many of the Wall Street elite.
Lat year the firm pulled itself up into the top-tier of the pay scale by awarding rises of between 17 and 20%.
At the time, Weil Gotshal corporate partner Jonathan Wood told Legal Week: “We wanted to put clear blue water between ourselves and our competitors. However, we felt that anything above £90,000 would be too toppy for a newly-qualified lawyer.”
Meanwhile Washington DC-based Hogan & Hartson has placed itself in the middle of the pay scale for mid-Atlantic firms with a £7,000 pay rise for its City NQ, who will now earn £77,000.
The rise puts them ahead of Jones Day, who pay their NQs £70,000, and just behind Shearman & Sterling, who hiked their NQ pay to £80,000 this year.
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