Germany’s Hengeler Mueller has raised its associate salaries, with newly qualified lawyers set to earn up to €90,000 (£62,000).
The firm, which is Slaughter and May‘s German best friend, has raised salaries for all associates up to five-years qualified. Lawyers are expected to make partner at the firm in year six.
Salaries for associates in the first three years are at two levels, depending on whether they have a Masters of Law (LLM) or not.
In year one, salaries have increased to E90,000 for those with an LLM and E80,000 (£55,000) for those without, a rise of €10,000 (£7,000) – or 8 per cent – and €5,000 (£3,000) – or 7 per cent – respectively.
In year two associate salaries are €100,000 (£70,000) or €90,000, while in year three lawyers can earn either €112,500 (£77,000) or €102,500 (£703,000).
From year four there is just one level of pay. Lawyers will earn €127,000 (£87,000) in year four and €150,000 (£103,000) in the fifth year, a rise of 10 per cent from last year’s €135,000 (£93,000).