Linklaters follows A&O with ban on associate pay rises
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).
Clifford Chance and Freshfields Bruckhaus Deringer are yet to announce their 2011-12 packages.
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Readers' comments (9)
Anonymous | 13-May-2011 8:46 am
I assume this means, though, that associates can still move through the bands, so should see a pay rise?
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Anonymous | 13-May-2011 10:20 am
NEWS FLASH: "DOG BITES MAN"
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Richard Moorhead | 13-May-2011 10:55 am
"I assume this means, though, that associates can still move through the bands, so should see a pay rise?"
Yep - I recall reading this increment was 15%
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Anonymous | 13-May-2011 1:05 pm
News flash: Greed rules at City law firms
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Anonymous | 13-May-2011 1:35 pm
Soon they won't have a lockstep!
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Anonymous | 13-May-2011 5:23 pm
Associates at these firms should thank their lucky stars that they have a pay rise to look forward to. The real world for many is another year without any rise whatsoever....!
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Anonymous | 13-May-2011 6:55 pm
Struggling to muster up any sympathy or empathy on this one...
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Anonymous | 16-May-2011 4:43 pm
Moving up a pay band cannot fairly be described as a pay rise.
A pay rise for a council employee, a pilot, or a teacher generally means getting more money for doing the same job.
Every pay band a lawyer moves up is a mini-promotion – which means a lot more responsibility and more difficult work.
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Mde F | 17-May-2011 4:42 pm
Agree with anonymous at 4.43 pm on 16 May - the charge-out rate also increases.
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