LONDON – Shearman & Sterling has announced that it is to freeze salaries for all of its UK-qualified lawyers in London, Asia and the Middle East.
The measure means that associates will not move up the lockstep, and will continue to earn the same amount as they did during 2008. Lawyers with one year post-qualification experience (PQE) will continue to earn ?80,000, while 2PQE associates will take home ?84,000 and 3PQEs ?92,000.
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