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.
Shearman & Sterling is the first firm in the City to announce annual pay increases for trainees and associates with newly-qualified lawyers now earning £80,000.
The US firm has announced a seven per cent increase for PQE salaries in its Abu Dhabi, London and Asia offices.
Shearman global head of HR, Marcus Franks, commented: “With strong levels of associate bonuses of up to £50,000 last January, we believe that our competitive base salaries and our potential total annual compensation for our UK associates is a highly attractive proposition.”
Newly qualified lawyers at the US firm have received a £5,000 increase from £75,000 up to £80,000. The new pay structure will see first year trainees receiving £39,000 up from £36,500, while second year trainee salaries have increased by £2,000 from £39,500 up to £41,500.
Senior associates will now receive a salary of £170,000.
A full list of the salaries paid by City and US firms is available on the Lawyer2B.com salary index.