Links associates see pay bands take a dive

Linklaters has cut associate pay bands by an average of 7 per cent and slashed bonuses across the firm. Linklaters associates will move up through the salary bands this year, but reduced rates mean that most junior lawyers will receive a pay rise of between just 2 and 4 per cent. The Linklaters announcement means that first-year trainees will continue to receive £37,400. Newly qualified rates fell by 7.6 per cent to £61,500; one year-PQE rates dropped by 3.4 per cent to £68,000; two year-PQE salaries fell by 11.6 per cent to £73,000; and three year-PQEs will receive £85,000, down 6.4 per cent on the previous year. Support staff, however, will not receive a pay rise this year, with rates frozen at current levels, and the firmwide performance-based bonus pool will be smaller than last year’s.