The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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.
Slaughter and May has sent out letters to its associates outlining their new salaries, which just fall short of the majority of the magic circle's.
Last week's (1 May) long-anticipated announcement, the firm's second in six months, sees Slaughters gift its newly qualified associates a 5.8 per cent rise, taking base salary to £63,500 from £60,000. Slaughters' pay rise takes it broadly in line with Clifford Chance's, which was the first firm to hike pay for associates.
Slaughters associates with one year's PQE will receive £67,000, two-year PQEs will take home £78,000 and three-year PQEs will receive £86,000.
But Slaughters also operates a bonus system. The firm has no target hours and all fee-earners are eligible for a 15 per cent bonus. This means that a Slaughters one year-PQE could earn more than £77,000 in total remuneration.
Like A&O, Slaughters had already increased its pay for associates by 12-15 per cent in the autumn and both firms were leading the market until Clifford Chance announced its pay rise (The Lawyer, 12 April).
Freshfields rose base salaries by an average of 19 per cent last week. The percentage rise in salaries increases the more senior the associate is.
The biggest leap for Freshfields associates is at the three years' PQE level, where salaries leapt by 21.6 per cent, from £74,000 to £90,000.
All of Freshfields' associates are eligible for a bonus once they have served six months as a newly-qualified. From that point to three years' PQE, associates can earn a discretionary maximum bonus of £20,000, rising to £35,000 for more senior associates.