The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
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 first magic circle firm to break the £50,000 benchmark for newly qualifieds’ (NQ) salaries.
The firm is upping new lawyers’ pay-packets to £51,000, which is part of a firmwide 2 per cent increase in all lawyers' salaries.
For example trainees will now be paid £29,100. The increases affect all lawyers bar salaried, or "national" partners and members of the equity.
Simon Firth, training partner at Linklaters said: "It is reflective of increased optimism in the market."
Though he admits: "The optimism has not yet translated into a significant increase in work."
The move pushes Linklaters’ NQ rates past Clifford Chance's which last week announced it would return newly qualifieds’ pay to £50,000, in-line with the rest of the magic circle, after it briefly cut salaries to £48,000.
Clifford Chance also increased trainees’ rates to £29,000 on a previous £28,500.