McDermott Will & Emery has become the latest firm to increase pay for London associates, raising salaries for newly qualified (NQ) associates to $225,000 as competition for talent among firms in the City intensifies.
Effective from 1 January, the Chicago-headquartered firm will raise London associate pay from the current rate of £147,500 ($190,000), matching the so-called ‘Cravath scale’ for associate compensation, named after the elite US firm known for establishing salary benchmarks.
