City law pay war: Akin Gump hikes trainee salaries close to £63k
Akin Gump has upped salaries for trainee solicitors in London by almost 15 per cent according to reports, as the pay war for young lawyers heats up.
The salary boosts by the US firm, which has offices in London, will take effect from the new year, according to Legal Cheek, which first reported the news.
First year trainees at the law firm will see a 15 per cent rise to £57,500, from £50,000. When they progress to their second year of training with Akin Gump, trainees will take home £62,500 annually, up 14 per cent from £55,000.
“Our trainees are an important talent source who quickly become immersed within each team and are given early responsibility to manage independent work streams,” Vance Chapman, Akin Gump partner, reportedly said.
“Akin Gump is proud to recognise and reward their legal talent at the very top end of London salary scales,” he added.