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 will splash out an estimated 500,000 this year on generous pay hikes for its UK-qualified lawyers to make itself more attractive to potential recruits.
The packages will benefit all 80 UK-qualified associates 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 London 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.
London managing partner Kenneth MacRitchie said: "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."
At the same time it is understood that White & Case is increasing its salaries for newly qualified lawyers by 5 per cent to 63,000.