UK law firm salary reviews: a bit of an anticlimax
There were several pay-freezes and a couple of modest increases in this year's first round of associate salary reviews, unlike during the previous downturn there have been no cuts, as this year firms have been buffered by strong financials carrying through from the first half-year.
Herbert Smith and Allen & Overy (A&O) froze associate salaries, but managed to remain competitive with its magic circle rivals’ conservative increases. This year, the magic circle firms Freshfields Bruckhaus Deringer, Linklaters and Clifford Chance raised their newly qualified (NQ) salaries by only 2, 3.9 and 4.9 per cent respectively.
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