Kennedys confirms NQ pay rise by 60 per cent to £80,000
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Kennedys has confirmed it is raising NQ pay by 60 per cent – from £50,000 to £80,000.
The increase, which will take place from tomorrow, brings the firm into line with its competitors and comes amid an ongoing salary war.
The new figure means Kennedys is now paying NQs the same as insurance rival Clyde & Co, which announced an increase to £80,000 earlier this year.
UK firms have been increasing salaries to compete with US-headquartered firms in London.
Akin Gump Strauss Hauer & Feld raised NQ pay to £179,000 in July while in March, Gibson Dunn & Crutcher increased its salaries for NQs to £161,700.
Magic circle firms Clifford Chance and Freshfields Bruckhaus Deringer offer their NQs £125,000. Allen & Overy and Linklaters have said they have no plans to raise their NQ salaries.
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