Within two weeks of New York-based Cravath Swaine & Moore announcing that it was increasing its associate base salary from $160,000 (£109,000) to $180,000 (£124,000), more than 50 global firms in the US and the UK have opted to match the new pay scale in New York and elsewhere.
Many US firms have extended the pay hike to the competitive London market and UK firms Freshfields Bruckhaus Deringer, Allen & Overy and Clifford Chance have confirmed they are matching the new pay scale for their associates in New York.
