Bonus on top
Linklaters has upped newly qualified (NQ) lawyer pay for the second time in just three month months, with base rates now sitting at £107,500.
The move equates to an extra £7,500, or 7.5%, with salaries previously at £100,000. It’s worth noting that NQs are eligible to receive a performance related bonus on top of this new six-figure rate. The change is effective 1 November.
This is the second time in three months NQ salaries have been increased. In July, as reported by Legal Cheek, Links upped pay packets from £92,500 to £100,000 following similar moves by Clifford Chance and Allen & Overy.
The revised rate sees Links put distance between itself and the rest of the magic circle in terms of junior lawyer pay, with Allen & Overy, Clifford Chance, Freshfields and Slaughter and May providing a salary of £100k plus performance related bonus.
The Legal Cheek Firms Most List shows Links dishes out around 100 TCs annually, the highest of any other City outfit, and offers trainees a salary of £50,000 in year one, rising to £55,000 in year two.