In recent months, the German bases of firms including Latham & Watkins, Clifford Chance and Mayer Brown have led their European competitors into a pay war that is today a mainstay of the global legal industry.
But Germany’s homegrown firms have so far been conspicuously stoical, resisting pressure to go the way of their international counterparts by offering newly qualified (NQ) lawyers record pay. For them, huge pay packets aren’t the priority when it comes to attracting the best talent, several people with knowledge of the trend have said.
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