Kennedys has raised newly-qualified pay by 60% in London to keep pace with fellow international firms Clyde & Co and Charles Russell Speechlys in the ongoing so-called salary war.

The firm, which recently reported an 8% increase in global revenue to post a record £286m last year, is increasing NQ salaries in the capital from £50,000 to £80,000 and outside of London by 32% to £50,000 from September, as first reported by The Lawyer.

Kennedys is also increasing salaries for first and second-year trainees in London – to £41,000 and £44,000 respectively – and in its regional offices, up to £29,000 and £32,000.

The announcement sees the firm match Clyde & Co and Charles Russell Speechlys in paying NQs £80,000, though that remains comfortably below the current record of £179,000 a year offered by US firm Akin Gump Strauss Hauer & Feld.

Meanwhile, Fieldfisher – which also posted record firm-wide revenues for the previous year, with income jumping by 15% to £330m – has increased its NQ pay in London for the second time this year.

The international firm upped salaries by 10% from £77,000 to £85,000 in January and has now announced an 8% increase to put NQs on £92,000 – putting it level with Dentons, Gowling WLG and Pinsent Masons, which boosted its NQ pay in April.

 

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