The war for junior talent at the top end of London’s legal market entered a new phase of brinkmanship this year, as firms jostled for position after Allen & Overy (A&O)’s decision to freeze its associate rates.
A&O froze its newly-qualified (NQ) salaries in late June, citing a ‘more challenging business environment’. The firm typically reviews pay later in the year, but A&O decided to bring the decision forward.
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