Baker McKenzie has made its entrance into the bidding war by City law firms for newly qualified lawyers by raising their salaries to £105,000.
Lawyers will enjoy the new base rate of £105,000, a 17 per cent jump, from March 2022.
The firm will raise pay for its trainee lawyers too, with first years earning £50,000, from £48,000, and second years £55,000, up from £52,000.
Associates and newly qualified lawyers at Baker McKenzie will be eligible to get a discretionary bonus on top of their new salaries too.
The move, the law firm said in a statement, is part of the company’s “commitment to the attraction, retention and development of the very best talent.”