Macfarlanes will keep on all six of its trainee solicitors qualifying this spring, and has increased its salary for newly-qualified solicitors to £70,000, up from £65,000. Seán Lavin, the firm’s head of graduate recruitment, said: “We recruit and train each generation of our trainees in the hope and expectation that all of them will qualify with […]
Half of all trainees in the North West are paid below the Law Society’s recommended minimum salary, new research by the recruitment agency Douglas Scott claims. The SRA previously set a minimum salary requirement, but this was abolished as of August 2014, to outcry from junior lawyers. Last February Lawyer 2B reported that trainees are taking second […]
Quinn Emanuel has boosted its associate salaries at all levels. The US litigation specialist does not take on trainees but newly qualified solicitors joining from other firms will now receive a salary of £99,500, a £2,000 increase, while 1PQEs get a £3,000 uplift to £108,000. Quinn Emanuel’s London co-managing partner, Richard East, told Lawyer 2B: “We have increased […]
Despite dissatisfaction with pay among many, the vast majority of lawyers – 93.4 per cent – are happy in their current practice area, and relatively few want to leave the profession. Asked where they would like to go for their next job, only 6.1 per cent said they wanted to leave the legal profession entirely. […]
Slaughter and May has fallen behind the pack in the associate pay stakes. The firm, which once led on UK firms’ remuneration, now trails behind Allen & Overy (A&O) and Clifford Chance, offering its junior lawyers the lowest pay deal in the magic circle (see full story here). However Slaughters has started on the bonus […]
Magic circle firms have released their salary figures for trainees and associates in 2014/15, but the increases are not enough to match the power of US firms’ wallets. The winter of salary freezes is well and truly over. Freshfields Bruckhaus Deringer was the last magic circle firm to thaw out its stagnated associate and trainee […]
High marketing salaries don’t mean the world has gone mad. I read the debate/noise/nonsense/informed discussion (please delete as appropriate) the other week on the salaries of law firm marketing directors. Well, one salary in particular (‘Marketing chiefs at City law firms pocket salaries of up to £477,000’). Here are a few thoughts around this broad […]
Slaughter and May has increased its trainee and associate remuneration for the second time in two years, with newly-qualified lawyers receiving a pay hike of up to 3.2 per cent. NQ’s are set to receive the biggest pay rise, seeing their remuneration jump up from £63,000 to £65,000 on 1 May 2014. The salary for […]
After 12 years of established law in this area, it’s disappointing (if understandable) that the Treasury should mount a smash-and-grab raid on the professions to increase the tax yield. Understandable because of the size of the potential tax yield. By the time of the Autumn Statement, the anticipated yield 2014/15 – 2018/19 had grown from […]
It is now slightly more than a year since the first employers reached their automatic enrolment staging dates and therefore many of the practical issues that arise for employers when implementing the reforms are now apparent. Updated versions of the guidance on certification of the quality requirement were issued in September and amendments designed to […]
RPC has broken ranks with the rest of the City and has ditched a fixed salary to newly-qualified lawyers. Instead. NQs will be assessed on performance and will be remunerated within a broad pay band. Will other firms follow suit? RPC to scrap NQ flat rate salary for performance-based pay Remuneration deliberations Davis Polk joins […]