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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Addleshaw Goddard is keeping its newly qualified lawyer (NQ) salaries at last year’s levels as it increases pay for trainees.
The top 20 firm has confirmed that it will be upping its first and second year trainee solicitor salaries in London by £1,000 to £36,000 and £37,000 respectively.
But the national law firm has decided to keep its NQ remuneration on the £58,000 they were earning in 2009.
The news comes after Freshfields Bruckhaus Deringer, which was the first firm to lift its pay freeze in February, confirmed that it will be boosting its NQ pay to £60,000 from £59,000 - a far cry from the £66,000 it had paid its NQs pre-recession (see story).
Freshfields also confirmed that the pay for first year trainee solicitors will remain unchanged at £39,000, while second year trainees will continue to receive £44,000.
Elsewhere, Slaughter and May has announced that it would also be unfreezing its salaries and moving associates up to the next pay band (see story).
The firm has also boosted associate salaries but has stopped short of increasing NQ or trainee solicitors’ salaries, meaning NQs will continue to pocket £61,000. This puts Slaughters’ NQ salary on a par with Allen & Overy, which has announced a modest rise in associate pay for all its lawyers.