A group of U.S. firms are gearing up for a round of London associate salary increases, with McDermott Will & Emery and Dechert the first to boost pay rates to keep up with London competition.

McDermott Will has brought forward its raises, which were scheduled to take effect on Jan. 1, with newly qualified lawyer salaries jumping by 7 percent from 70,000 pounds ($142,394) to 75,000 pounds ($152,565).

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