They face an agonising wait until the end of May, with no indication of what their rises, if any, will be.
As reported on The Lawyer.com (30 April), the firm's Italian offices have decided to cap aggregate associate pay rises at 5 per cent after a slowdown in banking and capital markets.
In Paris the firm will apply salary increases of around 12 per cent, while in Germany the average rise is 8 per cent.
Paris managing partner Yves Wehrli said: "Each office keeps autonomy to seek the lawyers' increase depending on market trends. We've resisted the credit crunch extremely well."
Frankfurt partner Joachim Shrey added: "Since we expect top performance from our associates, we also have to pay top salaries."
In the UK Linklaters - the first of the magic circle firms to announce salary increases - will hike salaries by an average of 2.5 per cent. This is in stark contrast to last year's salary boost, which averaged 15 per cent for associates. Herbert Smith went one step further and froze salaries.
Pay deals done
From: Anonymous
I work in the support side, and just got a 4% increase. Plus a bonus,so it does seem that they are looking after the support staff too.
What about the rest?
From: Legal support specialist
What about the support staff? These rises, although defendable with reason, will only broaden the gap between the lawyers and non fee-earners in the company (and other law firms). This will not help bringing both groups together and I hope lawyers all agree that although they bring in the money, it's the support structure of the firm who will be key in establishing competitive advantage the coming years.
CC associates in agony
From: Anonymous
The lawyer has a sensational talent for sensationalism. That being the case I decided to contact my friends at CC to verify the levels of anxiety on the ground. I've heard nothing back yet. I suspect they are in too much agony to reply.
Calm down!
From: Ashleigh
Please don't forget that copies of The Lawyer may fall into non-legal hands - you are embarrasing the profession by reporting this story in such overblown and exaggerated terms - come on, an "anxious" and "agonising" wait (of a whole month!) to find out of their already very substantial salaries will be hiked up even more? I can't imagine any CC associates are having to switch to own-brand baked beans as the credit crunch bites, and the ones who mortgaged themselves to the brink of their pay packets have only themselves to blame. Agonising is being locked in a cellar for 24 years, not wondering if you can afford a new kitchen.
Bad journalism that gives us all a bad name.