The battle for talent in the City is far from over as two more firms today announced salary boosts for their newly-qualified solicitors.

Travers Smith confirmed that newly-qualified lawyers will now receive a base salary of £130,000 with the potential to earn up to £20,000 as an additional bonus during the financial year. The firm is also increasing salaries for trainees: £55,000 in year one and £60,000 in year two.

The firm said it highly values the contribution of its associates ‘and are pleased to be able to make this additional investment at all levels to support them as they grow in their careers with us’.

Mishcon de Reya has upped the salary for newly-qualified lawyers to £100,000, effective from September. Trainees will now be paid £50,000 in their first year and £55,000 in their second.

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Vanessa Dewhurst, partner and chief people officer, said Mishcon conducted a benchmarking exercise to ensure its salaries remained attractive, fair and sustainable.

‘Our people are our greatest asset and we have considered extensively how to ensure we best reward all of our people. We do this through a mix of pay, bonuses and a generous range of benefits as well as the opportunity to work with some of the most interesting clients on some of the most complex legal matters. This ensures that Mishcon de Reya is an attractive destination for the brightest talent and rewards our people for the exceptional contribution they make to our firm,’ Dewhurst added.