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.
Shearman & Sterling will splash out an estimated £500,000 this year on generous pay hikes for its UK-qualified lawyers in a bid to make itself more attractive to potential recruits.
The new packages, unveiled in London last week, will benefit all of Shearman's 80 UK-qualified associates, both in London and across the firm's international network.
Newly qualified lawyers will be paid £60,000, up from £55,000, with the six-monthly pay bands for all UK-qualified associates also being raised.
Last September saw the London office increase pay for first year trainees, from £30,000 to £35,000, and from £34,000 up to £37,500 for second years.
While the firm has made some headway in hiring trainees and partners in London, it has struggled to attract mid-level UK associates, despite the promise of significant bonuses.
Shearman London managing partner Kenneth MacRitchie told The Lawyer: "This reflects our desire to continue to recruit more associates. These increases put us in a position where we're attractive both on quality and compensation."