The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
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.
Ashurst has broken its two-year pay freeze for London-based trainees and newly-qualified lawyers, upping its junior pay bands by up to 3.3 per cent.
First-year trainees have been gifted a 2.6 per cent pay rise from £38,000 to £39,000, while second-year trainees saw their salaries bumped up 2.3 per cent from £43,000 to £44,000. Newly-qualified lawyers saw their pay packets increased from £61,000 to £63,000 – a rise of 3.3 per cent.
The pay rises mark a sea-change for Ashurst, which opted to keep salary levels for trainees and NQs static for the second year running in June 2013 (5 June 2013).
Ashurst has a merit-based system for associates, but its “spot rates” or average salaries fall at about £69,000 at 1 year PQE, £77,000 at 2 years, and £85,000 at 3 years’ PQE.
The figures remain flat following substantial pay hikes last year, which saw Ashurst increase pay for its 1-year PQE lawyers by 3 per cent from £67,000 to £69,000. At 2 years’ PQE, salaries rose by 4 per cent to £77,000.
A number of firms have released details of their remuneration packages for 2014/15 in recent weeks. Newly-qualified lawyers at Slaughter and May saw their pay increased by 3.2 per cent to £65,000 (30 April 2014), while Linklaters’ three-year PQE lawyers received a salary boost of £93,500 (12 May 2014).