Shearman & Sterling has announced salary hikes for its English-qualified lawyers, increasing pay levels in the firm’s three-tier merit-based system by as much as 15 percent.

The salary increases, which took effect May 1, will see the basic pay level for junior associates — those with up to three-and-a-half years post-qualification experience (PQE) — rise 7 percent from £73,000 to £78,000, with the maximum amount junior associates can be paid rising 14 percent from £95,000 to £108,000.

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