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.
Lovells has increased salaries for newly qualified associates by 2.3 per cent to £65,000, up from £63,500 last year.
This brings the firm’s NQ salaries in line with the magic circle.
The salaries across the more senior assistant salary bands have increased by an average of 3 per cent. This means those with one year post qualification experience (PQE) now receive an average of £68,000 while those with two-years’ PQE are on £80,000 and those with three-years’ PQE can expect to earn around £88,000.
For first year trainees salaries have increased by £1,000 to £37,000.
This compares favourably with Herbert Smith, which froze its salary bands across the board this year. Norton Rose also froze its NQ salaries at £63,500. Simmons & Simmons froze its trainee salaries but upped NQ wages by £500 to £64,000.
Salary increases at the magic circle have also been muted this year, with NQ slaries rising by between 2 per cent and 4.9 per cent. An NQ at Allen & Overy is now on £65,000 while at Clifford Chance and Linklaters the rate is £66,600.