The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
While magic circle NQ lawyers are taking home between £60,000 and £65,000, their counterparts at US firms are earning almost double, with Davis Polk offering £50,000 for first year trainees.
These figures have tickled the interest of students tired of the free biros - Davis Polk has already chosen its cohort of six trainees to start in 2014 - but it’s caused quite the stir among in-house lawyers and those at other firms.
“As a 20-year PQE EMEA general counsel I’m not sure I can see any good reason to instruct a firm that pays its NQs that much,” said one reader.
Some rushed to the firm’s defence: “The anger and incredulity these pay offers seemingly provoke say more about the law of envy than anything else. Which is of course what drives City law.”