Linklaters has implemented pay rises for all associates with 3 year PQE lawyers seeing the biggest rise, receiving a salary boost of 5 per cent from £89,000 to £93,500.
The firm has almost doubled last year’s pay increase for second and third year PQE. In 2013, its third year PQEs received a pay rise of £1,000, going from £88,000 to £89,000 but this year their pay jumped by £4,500. Second year PQE salaries also jumped from £78,250 to £82,000 compared to a rise of £2,250 last year (7 May 2013).
First year PQE salaries have risen by £1,000, with those lawyers paid £70,500 as opposed to £69,500 last year. It is a boost on last year, when they received a salary increase of 0.7 per cent, from £69,000 to £69,500.
It is the second year running the firm has hiked salaries across the board, with the firm boosting newly qualified (NQ) pay last year for the first time since 2011.
Last year NQs saw their pay jump by 4 per cent, to £64,000 but this year that rose by a more modest 1.6 per cent, to £65,000.
Linklaters raised the remuneration for most of its junior lawyers in May 2012 after two years of pay band freezes in 2010 and 2011.
Last year the firm’s new rates also came out around the same time with Linklaters just pipping its peer to the post, with associates either earning the same salary or up to £1,500 more