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.
The Solicitors Regulation Authority (SRA) has announced a modest increase in the minimum salary for trainee solicitors.
The new minimum wage for trainees working in London will be set at £18,590 from August. This represents an increase of just 0.9 per cent from the current £18,420. However, the recommended salary for trainees in the capital has been set at £19,040.
The news comes as a growing number of City firms continue to freeze trainee salaries in response to the global economic crisis. On average a trainee working at a top City firm will receive around £37,000 in their first year.
The SRA has also put the minimum wage for trainees outside London up by 0.9 per cent, from £16,500 to £16,650. The regulator recommends those living outside the capital should be paid around £16,940.
The SRA began a consultation in October 2006 to determine whether the market favoured the abolition of the minimum salary for trainees. But findings in May 2007 showed the majority of respondents, two-thirds of whom were trainees, said they supported the minimum standards, which are aimed at protecting trainees from exploitation in the legal market.