Cleary Gottlieb Steen & Hamilton is raising its salary rates for London trainees in a move that will make the New York leader the top payer for UK trainee lawyers.

The starting salary for new trainees next September will be £35,000, marking a 6% rise from the current salary of £33,000. The amount will soar to £40,000 in the second year, with newly-qualified lawyers receiving £74,000 as before.