Solicitors qualifying at Freshfields Bruckhaus Deringer this year will benefit from the £15,000 increase over last year’s figure.

The rise in pay has been fuelled by aggressive competition from American law firms, among them Cravath and Milbank, which began paying NQs £145,000 last year.

NQs at Clifford Chance, meanwhile, earn £87,000, while those at Allen & Overy, Slaughter and May and Linklaters enjoy starting salaries of £83,000 a year.

One senior lawyer described the increases as “absurd” and speculated they could reach £150,000 a year.

Chris Clark, a legal specialist at the recruitment firm Definitum, said: “Pay cannot keep going up and up, there will come a tipping point.

“British law firms will have to become more efficient and more profitable businesses to stay competitive. That means cutting costs, lower staffing numbers and taking on fewer trainees.”

“Millennial graduates are often not looking at lifelong careers in law, they see the US firms as a way to make good money for a few years and then get out,” another recruiter said.

A spokesman for Freshfields said: “Our pay offering is a critical part of our talent strategy and reflects our continued commitment to attracting and retaining the very best talent in the legal market.”