Cleary has increased London trainee salaries by roughly 8% - to £62,500 in year one and £67,500 in year two, up from £57,500 and £62,500, respectively.
The move places the Wall Street firm just behind marketing-topping US rivals Davis Polk, McDermott, Milbank and S&C, where second-years earn £70,000.
Cleary has announced salary increases of roughly 8% for its trainees in London.
Trainee solicitors at the Wall Street firm will see pay rise to £62,500 in their first year and £67,500 in their second year, up from £57,500, and £62,500, respectively.
The new rates place Cleary between White & Case (£67,000) and Paul Hastings (£68,000) in the trainee pay rankings - and just behind the market-topping US quartet of Davis Polk, McDermott, Milbank and Sullivan & Cromwell, which pay second-years £70,000.
The US firm, which offers 16 training contracts a year, pays its newly qualified lawyers £164,500.
See our City law firm salary table for the full run-down on where things stand.
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