Linklaters has joined a growing band of law firms reporting a flat gross for this financial year, after billings remained unchanged at £720m. Average PPP for 2003-04 reached £640,000, a 12.8 per cent decline on the previous 12 months. Turnover crept up by 0.3 per cent. The firm has also become the first magic circle firm to break the £50,000 benchmark for newly-qualified salaries. It is upping new lawyers’ pay-packets to £51,000, which is part of a firmwide 2 per cent increase in all lawyers’ salaries.
First revealed on www.thelawyer.com 17 May