Linklaters.jpg” alt=”Linklaters salaries fail to match inflation” />Linklaters has announced a below inflation salary increase for its London associates, with an average pay hike of 2.5 per cent, The Lawyer can reveal.
This is a stark contrast to last year’s salary boost, which averaged 15 per cent for associates.
Newly-qualifieds are the biggest winners with a salary increase of 3.9 per cent to £66,600. Seat one trainees get the second largest rise, with their salaries jumping by 3.6 per cent to £37,400.
Associates with one year’s PQE will see a wage hike of 2 per cent to £70,400, while two year’s PQE lawyers will receive the lowest rise of 1.9 per cent bringing their salary start point to £82,600.
Third year PQE associates match first year qualifieds with a 2 per cent pay increase which equates to £90,800.
Pay increases will take effect from tomorrow (1 May).
In addition to bumping up the firm’s salaries, Linklaters will continue its profit-related bonus for all staff, which Linklaters’ associate bonus scheme with bonuses of up to 50 per cent of wages.