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‘You have no choice but to invest’: Top City lawyer pay swells above $10m

The influx of US firms into London and the rocket fuel of the private equity industry has led to spiralling pay for high performers

By James Booth
The growth of US law firms in London over the past two decades has led to intense competition on pay in a market where compensation was previously tied to seniority
The growth of US law firms in London over the past two decades has led to intense competition on pay in a market where compensation was previously tied to seniority

A battle for top London lawyers, fuelled by the gravy train of private equity fees and competition from US law firms, has pushed pay above $10m for more City specialists than ever before.

City lawyers and headhunters have told Financial News that despite an overall slowdown in the recruitment market, fierce competition for talent is prompting firms to shell out ever larger sums.

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