Akin Gump has increased trainee salaries by 12% and 8% for first and second years respectively, with the group representing the first trainees the US firm has taken on, while its newly qualified (NQ) pay remained static this financial year.
Travers, Macfarlanes and Jones Day boost junior lawyers pay while HSF and CMS freeze associate salaries
Travers Smith, Macfarlanes and Jones Day have all boosted their junior lawyers pay in this year’s review, in contrast to Herbert Smith Freehills and CMS McKenna Nabarro Olswang which have held pay for London associates, with some regional pay rises.
Magic Circle pay watch: Links edges up associate salaries, Slaughters holds and CC gets coy
Pay rises continue to ripple through the top-end legal services market despite the uncertain outlook for the City. The latest to go is London giant Linklaters, which has nudged up its base rate for junior lawyers by £1,000, handing newly-qualified (NQ) solicitors £82,000.
Hogan Lovells hikes NQ pay by 5% in latest round of City increases
Hogan Lovells’ UK newly-qualified (NQ) lawyers pay has risen 5%, as the firm increases junior associates’ salaries.
Continue reading “Hogan Lovells hikes NQ pay by 5% in latest round of City increases”
‘Competitive remuneration key’: White & Case hikes associate pay with NQs seeing a 17% increase
White & Case‘s London associates have seen a significant increase in their pay with the US firm awarding its newly qualified (NQ) associates with a £15,000 pay hike for 2017.
Playing catch-up: CC to push on with remuneration changes
While its Magic Circle peers have made significant progress with modifying their locksteps to attract and retain talent, Clifford Chance (CC) is dragging its feet on implementing proposals voted in nearly two years ago.
In 2015 CC made amendments to its pay structure to allow leading partners to go up to 130 points, while plateau partners, as well as teams and geographies contributing less may be brought down and capped at 70. The ladder previously ranged from 40-100.
Continue reading “Playing catch-up: CC to push on with remuneration changes”
Eversheds average member remuneration drops 10% to £386,000, as staff costs increase 16% to £174m
Eversheds LLP’s have revealed that the firm’s average remuneration per member has dropped 10% from £410,000 to £386,000 as the firm’s staff costs have increased 16% from £150.2m to £174m. Continue reading “Eversheds average member remuneration drops 10% to £386,000, as staff costs increase 16% to £174m”
Lawyers on Demand records double-digit revenue growth as top-end salaries soar
Lawyers on Demand (LOD) has recorded an 18% upsurge in turnover for the 2015/16 financial year, according to its latest filings with Companies House. Revenues rose from £12.3m to £14.6m in the last financial year. Continue reading “Lawyers on Demand records double-digit revenue growth as top-end salaries soar”
A&O management sees a 7% increase to pay amid modest revenue growth
Allen & Overy‘s (A&O) c-suite including its senior partner and managing partner, global practice heads and support directors took home £13.6m in 2015/16, up 7% on last year’s £12.7m, the firm’s accounts reveal. Continue reading “A&O management sees a 7% increase to pay amid modest revenue growth”
LLP latest: Scots deal adds £7m to Clydes bottom line as highest-paid member takes home £1.4m
Clyde & Co‘s highest-paid LLP member received £1.4m during the last financial year, while its merger with Simpson & Marwick brought in an additional £7m in profit in 2015/16.