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Allen & Overy has held associate pay levels at 2012/13 rates after unveiling its first increase in trainee salaries for the first time since 2010.
Newly-qualified (NQ) lawyers will still earn £61,500, while associates with one year’s post-qualification experience (PQE) will receive £68,500. 2 and 3 PQE salaries remain at £74,500 and £86,000 respectively.
Earlier this year the firm confirmed a single-figure percentage increase in salary rates for its trainees in both the first and second years (23 April 2013).
In 2012 the firm lifted its salary pay freeze after holding remuneration levels static in 2011 (18 April 2012).
The news comes after Linklaters increased pay levels for all junior lawyers earlier this month (7 May 2013), while Slaughters’ junior associate pay rose by an average of 2 per cent across qualification levels (30 April 2013).