Source: MSN
Linklaters has raised pay for newly qualified lawyers to £150,000, becoming the latest elite law firm to wade into a renewed war for talent in the City of London.
The “magic circle” firm is handing its most junior London-based lawyers a 20 per cent increase in base pay effective from May 1, Linklaters said, in a statement first reported by the Financial Times. The firm, which turned over £1.9bn in its most recently reported financial year, is also increasing salaries for trainees and apprentices.
Linklaters’ decision comes after rival “magic circle” firm Freshfields Bruckhaus Deringer raised pay for its own newly qualified lawyers in the City to £150,000 earlier this month. A week later, US law firm Quinn Emanuel Urquhart & Sullivan said it was increasing base salaries for its most junior lawyers in London to £180,000.
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