That's the first month's pay then.
A&O confirmed it will also pay NQs £107,500, up from £100,000, from 1 November, with the possibility of more via a discretionary bonus.
“Following a review of the market, we are increasing our London-based lawyers’ salaries to ensure we continue to attract and retain the very best legal talent", said a spokesperson.
At the same time, A&O is hiking trainee salaries to £50,000 in year one and £55,000 in year two.
Both firms have now raised NQ pay twice within a matter of months: Linklaters' increase from £92,500 to £100,000 only took effect a fortnight ago.
Although they declined to confirm it, the rest of the Magic Circle will surely follow suit. Slaughter and May, Clifford Chance and Freshfields all currently pay NQs a salary of £100k, and none will want to give the other two bragging rights in a hot market for junior lawyers.
Clifford Chance has dropped a big hint that it's ready to move up. The firm has boosted NQ salaries at its German branches by €20,000 this week, to €140,000, equivalent to £118,000.
The firm's UK pay review is scheduled to take place later in the financial year, and if CC decides to harmonise pay levels across the two countries, it will necessitate another escalation around the Magic Circle, and soon NQs will be our Kings and Queens, carried around the City on litters by serfs with giant funnels stuffed in their mouths and gold just pouring in, like geese destined for foie gras, begging for the pay rises to stop, their eyes watering and their bellies cramping as they shuffle their mistresses and masters from the office to Pret and back again, asking themselves, 'When will it end?'