Newly-qualified (NQ) lawyers at Dewey & LeBoeuf will now earn £80,000 after the firm’s first salary hike post-merger, representing an increase of around £5,000 on the previous salaries paid at both legacy firms.
Pre-merger NQs at LeBoeuf Lamb Greene & MacRae earned £75,000, while those at Dewey Ballantine were remunerated at an equivalent rate in dollars.
The new rates equal those at the
However, O’Melveny has raised its rates for its lawyers with one year post-qualification experience (PQE), with wages moving up to £88,000 from £86,000. Lawyers with two years’ PQE will receive a similar increase to £98,000.
Dewey’s human resources officer Nicholas Jelf said: “These salaries reflect our commitment to being competitive in the
Meanwhile, rates at Bakers are set to remain virtually static this year, with NQ salaries rising by just £500 to £64,000. Take-home pay for the firm’s first-year PQE lawyers has been frozen at £68,000, although second-year PQEs rise £1,000 to a new value of £77,000.
Trainees at the firm will start on £37,500, which represents a rise of less than 3%.
Last year Weil Gotshal & Manges kicked off a pay war among the mid-Atlantic firms after increasing NQ pay by 20% to £90,000, the same level as many of Wall Street’s elite.
Last year, salary increases at