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News
Most of Magic Circle announce associate pay rates
updated on 20 May 2011
Legal Week reports that both Linklaters and Allen & Overy (A&O) have announced a freeze on associate pay bands for the 2011-12 financial year. As of 1 May, a one-year PQE lawyer at Linklaters will earn £68,000, while an NQ will earn £61,500.
A&O has also frozen the pay of its associates, which will see one-year PQEs stay at £61,000 and its most senior associates at £94,000. It blamed a "flat trading year in 2010-11" for the failure to increase salaries.
Conversely, Freshfields has announced a pay rise of between £1,500 and £2,000 for its associates. Slaughter and May has also given a small rise to its junior associates (of between 1.5% and 3%), but trainee and NQ salaries remain frozen.
Clifford Chance has yet to announce whether it will be keeping the salary status quo or going up … watch this space.
