A&O Shearman is boosting pay for newly qualified lawyers in London, following similar moves by its Magic Circle rivals.
The firm will pay junior lawyers £150,000 ($188,000), up from £125,000 ($157,000), A&O Shearman said Friday.
The firm was formed in the recent combination of Allen & Overy and Shearman & Sterling. It had previously stuck to the lower rate Allen & Overy paid London NQs, even though Shearman & Sterling had paid its new London lawyers £145,000 ($185,000).
A&O Shearman changed course in response to moves by key rivals Freshfields Bruckhaus Deringer, Linklaters, and Clifford Chance to raise their rates ...
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