If you’re 5PQE and an NQ is on only £3k less than you then you’re a clown for staying put and not moving elsewhere for higher pay.

Pay bunching is sh*t, and more so when it is due to p*sing contests between firms, and uninspired pay strategy at leadership level. But – the effect of pay bunching is much more of an issue in the regional firms where the rates and differences actually impact on life style and whether people can pay their rents.

Above a certain level, say a six figure salary, whilst it still sucks that an NQ is being paid within £3k of your salary, you can still take comfort in that you can afford your groceries, utilities, and mortgage payments that month and still have some left over for your luxuries. The salary levels reported above at NQ level and above are already at exorbitant levels from the view of the majority of society – legal or non-legal (well, maybe not the investment bankers).

No way are those shops matching that rate.

I predict soon, silver circle will be 135-150k nq as standard.

MC will feel no choice but to match (at least at nq) US firms – so 160-180k.

The US firms wont go beyond what they are now in London, but will have less salary bunching and bigger bonuses.