Linklaters is expected to enter the pay war by boosting its associate pay by around 16 per cent, which is higher than its magic circle rivals.
No formal announcement has yet been made, but Linklaters is expected to hike its salaries for associates with one year PQE by 14 per cent to 69,000, while two year-qualified solicitors will see an increase of 15 per cent to 81,000. Associates with three years PQE can look forward to a pay rise of 16 per cent to 89,000.
The expected salary hikes would mean Linklaters pushing ahead of Clifford Chance, which announced its new wages last week (12 April). From 1 May Clifford Chance's newly qualified lawyers will earn 63,500 an increase of 8,500. An associate with one year's PQE will take home a salary of 66,000, with a potential maximum package of 79,200 including bonuses. The move also puts Linklaters' salaries slightly ahead of Allen & Overys (A&O), which upped its salaries by 15 per cent last October.
However, as revealed by Lawyer2b.coms sister product, The Lawyer (16 April), A&O is expected to trump Clifford Chance's 15 per cent when it announces its rises next week.