More than a few eyebrows were raised in Dublin’s close-knit legal market when Matheson Ormsby Prentice (MOP) unveiled plans in February to introduce tiered salaries for its newly-qualified lawyers.

MOP says it is prepared to pay newly-qualifieds in high-growth areas such as securitisation and structured finance up to E62,000 (£42,000), while those qualifying in less exotic practice areas like property and insurance would have to settle for a flat rate salary of a mere E54,000 (£36,000).