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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Linklaters has become the latest magic circle firm to freeze its associate salary bands for the 2011-12 financial year, holding them at the same level for a second consecutive year.
Lawyers at the firm will continue to move through the pay bands as they progress through their career, but the value of each band is to remain unchanged.
Trainees in their first seat will earn £37,400, with newly qualified (NQ) solicitors taking home £61,500. Those with one-year’s post qualification experience (PQE) will earn £68,000, those with two-years PQE are on £73,000 and three-year PQEs will take home £85,000.
The news means that associate pay levels at the firm have not changed since 2009-10, with salaries actually lower than they were in 2008-09, when a one-year PQE lawyer earned more than £70,000.
Earlier this week, Allen & Overy announced that it was to refreeze its pay bands for the coming year (11 May 2011), while associates at Slaughter and May will see a slight increase in salaries (5 May 2011).