Scottish-headquartered firm Shepherd & Wedderburn posted a 7 per cent rise in total revenue for the 2023/24 financial year, with net profit reported as having risen by 12 per cent to £30.2m. In recognition of the firm’s performance, a bonus of 5 per cent of annual salary was paid to all employees. This is the […]
Milbank lawyers are set to pick up bonuses ranging from $6,000 for the most junior associates to $25,000 at the highest level. But what does that tell us about the market? Firstly, it reveals just how confident US firms are Firms don’t give out bonuses in times of woe, so Milbank’s decision to dole out […]
Milbank has announced that associates around the world are soon to receive summer bonuses of up to $25,000. To be paid by the end of September 2024, associates can expect a sum between $6,000 and $25,000, as first reported in Above the Law. Associates with six years of experience or more, as well as special […]
Pinsent Masons is giving all employees Friday afternoons off this August as part of a new flexible working trial. Subject to client demand, employees in offices across the UK, Europe and Middle East can work a compressed week and leave by lunchtime on Fridays without a pay cut. The compressed hours trial is nearing the […]
Shoosmiths is the latest firm lining up a pay increase for its newly-qualified (NQ) solicitors, as new rates for London, regional England, Scotland and Belfast are due to take effect in November this year. City salaries will go up by 8 per cent from £90,000 to £97,000 while the regions will see a 5 per […]
White & Case has revealed increased salaries for its lawyers in London, including for its trainees and newly-qualified (NQ) solicitors. From January 2025, all lawyers in London can expect to see a pay rise, with some bands increasing by nearly 20 per cent. NQ solicitor pay will increase by 16.6 per cent from £150,000 to […]
Taylor Wessing has hiked salaries for newly-qualified solicitors (NQ) by 15 per cent, while Gowling WLG has opted for a more conservative 3.2 per cent uplift. After a record-breaking year for the firm, Taylor Wessing has confidently increased its NQ rates by 15 per cent from £100,000 to £115,000. The financial support for its future […]
Baker McKenzie is the latest firm to increase its London newly-qualified (NQ) solicitor pay, with the new rate jumping 18.6 per cent from £118,000 to £140,000. The new NQ rate took effect on 1 July and will also be soon followed by an increase to Bakers’ trainee pay. From 1 September this year the firm […]
Clifford Chance has altered its associate bonus review process in the UK, bringing it in line with offices in the US. The new system was introduced at the beginning of June and sees associates better rewarded when they are higher in demand – ultimately linking the number of hours billed to the individual’s bonus potential. […]
Reed Smith has increased its newly-qualified (NQ) solicitor salary to £125,000 in its first rise since announcing a hike in 2021. From September this year, the firm is set to increase base salaries for NQs from £107,500 with all other associate-level salaries expected to rise in line with the change. The new compensation structure means […]
DLA Piper has once again raised pay for its newly-qualified lawyers (NQs), setting a new standard in the regions with a £6,500 increase. The firm’s regional NQ salary will go up to £75,000 from September, up 9 percent from the previous £68,500 implemented in 2023. In early 2022, DLA Piper was among the first to […]
Herbert Smith Freehills has increased its compensation package for its trainee solicitors and newly-qualified (NQ) solicitors, with NQs now earning £135,000. NQ pay at the firm will increase 12.5 per cent from £120,000 to £135,000 – a figure that now surpasses that of Slaughter and May which decided to remain at £125,000 in June. Trainees […]