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Linklaters has implemented an across the board pay hike for all junior lawyers, with newly qualified (NQs) lawyers receiving their first salary boost since 2011.
The firm’s NQs will be receive an increase of 4 per cent from £61,500 to £64,000. A salary for one year PQE associates jumps a modest 0.7 per cent from £69,000 to £69,500.
Second year PQE associate salaries, meanwhile, have risen 3 per cent from £76,000 to £78,250. While third year PQE associates will see their pay creep up 1 per cent from £88,000 to £89,000.
Linklaters raised the remuneration for most of its junior lawyers in May 2012, after two years of pay band freezes in 2010 and 2011.
The pay adjustments are strikingly similar to those announced by Slaughter & May last week (30th April). Linklaters just pips its peer to the post, with associates either earning the same salary or up to £1,500 more.
The firm said in a statement: “As in previous years, legal staff will continue to progress through the salary bands which will deliver a pay increase depending on the stage of their career…In addition, the firm’s well-established bonus scheme, which is available to all levels of legal staff, from trainees through to counsel, will continue to reward exceptional performance.”