Big Four accounting firm PwC has upped pay for newly qualified (NQ) lawyers working in its fast-expanding UK legal business to heights of £90,000 a year.
The salary hikes will see PwC match the salaries offered by top ranking law firms including London law firm Mischon de Reya, and put it ahead of major firms including Fieldfisher and Clyde & Co, new website LegalCheek first reported.
The pay rises, which will see the salaries paid out to PwC’s freshly-trained lawyers increase from £72,000 to £90,000 per annum, come after the the accounting firm in January set out plans to double the size of its UK legal business over the next three to four years.
PwC’s plans come as the Big Four have increasingly sought to capitalise on the legal sector by offering clients integrated legal services over the previous decade.
The pay rises for PwC’s lawyers come after the firm last month handed out nine per cent pay rises to around 11,000 of its rank-and-file staff, in the midst of an ongoing battle for talent amongst the UK’s major professional services firm.
The talent war has seen law firms offer their NQ lawyers increasingly outrageous salaries in their efforts to recruit and retain staff.