Magic circle salary hikes reflect return to boom times but US threat remains
As the post-recession associate lateral market in the City seems to be heating up, competition for the best young legal talent is growing.
June 12, 2014 at 07:08 PM
4 minute read
As the post-recession associate lateral market in the City seems to be heating up, competition for the best young legal talent is growing. And this is duly reflected in this year's associate pay figures.
Magic circle salaries have gone up across the board, with Clifford Chance upping pay by as much as 7.4%. Allen & Overy and Linklaters, meanwhile, have increased some salaries by 5%.
Freshfields Bruckhaus Deringer also substantially hiked pay for its junior lawyers, topping the charts with salaries of up to £135,000 for associates in its top band – equivalent to roughly six years' experience. However, the firm moved away from the traditional associate lockstep in 2012, rendering a direct comparison with its competitors impossible.
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