Allen & Overy and Linklaters freeze salaries

Allen & Overy and Linklaters have frozen salaries for associates. This means that lawyers will progress to the next salary band according to the lockstep system, but that the bands will remain at the same rate as this year. This represents some progress for associates at Allens, where the lockstep has been frozen for the past year, meaning that lawyers were not permitted to progress through the salary bands. Newly qualified lawyers at Allens will make £61,000, 1PQE associates £68,000, 2PQE associates £74,000 and 3PQE associates £85,000. Linklaters reportedly has similar salary figures. A spokesman from Allens said "trading conditions in the UK market remain flat. Clients face the same pressures we do in this market and it would be difficult to justify an increase in salary rates. Our associates do, however, benefit from rolling through the bands".

Allen & Overy and Linklaters freeze salaries rollonfriday.com Fri, May 13, 2011