Simmons & Simmons gift junior lawyers £100k salary December 20, 2021 City law firm Simmons & Simmons will boost pay for its newly qualified lawyers in London to £100,000, in a bid to retain junior lawyers being wooed by other firms with the promise of ever higher starting salaries. The rise marks a jump of £12,000 for newly qualified lawyers at the firm, who currently take [...]
Linklaters changes pay structure to reward ‘exceptional’ partners as bidding war for talent rages on December 16, 2021 Linklaters plans to shift its traditional pay model for partners so “exceptional” individuals can be held on to with larger salaries. Senior partner Aedamar Comiskey confirmed in a statement that the move, which will apply globally, was backed by Linklaters’ 500 partners through a vote. The main changes include the ability to offer more money [...]
Clifford Chance names Charles Adam as first non-UK based global managing partner December 16, 2021 Law firm Clifford Chance will for the first time be headed up by a lawyer based outside the UK, after naming Milan-based Charles Adams as the magic circle firm’s new global managing partner. Dual qualified in Italy and England & Wales, Adams has acted as a regional managing partner for continental Europe since 2018. He [...]
Businesses beware as 70 per cent Brits aren’t afraid of taking legal action December 16, 2021 Companies that break the law could find themselves facing more lawsuits from the great British public, as over 70 per cent said they would join a class action – many even against their own employer – according to a new study published today. The study, which polled members of the public on their perceptions of [...]
City pay war: Baker McKenzie makes £105k bid for junior lawyers December 14, 2021 Baker McKenzie has made its entrance into the bidding war by City law firms for newly qualified lawyers by raising their salaries to £105,000. Lawyers will enjoy the new base rate of £105,000, a 17 per cent jump, from March 2022. The firm will raise pay for its trainee lawyers too, with first years earning [...]
Over 90 per cent City law firms grew profit pools despite pandemic setbacks December 13, 2021 Over 80 per cent of City law firms have also outperformed their expectations for the year, as the legal sector emerges stronger after a year interrupted by lockdowns and restrictions, according to a new report. The majority of City firms, at 91 per cent, enjoyed an increase in their profit pool and saw aggregate revenue [...]
Norton Rose Fulbright names new global chair as Farmida Bi December 9, 2021 Norton Rose Fulbright has named its next global chair as Farmida Bi CBE, London capital markets and Islamic finance partner. Named in the top five of a “Muslim Women Power List” by The Times among a host of legal accolades, Bi is a legal expert in debt capital markets and Islamic finance as a form [...]
Biggest UK law firms pocket almost £30bn revenue as sector grows December 9, 2021 Revenue of the 100 biggest UK law firms grew by four per cent to £28.8bn in 2021, according to a new report by a professional body for financial and professional services. The news comes as City law firms battle it out in a bidding war for junior lawyers. Last week ‘silver circle’ law firm Herbert [...]
City law pay war: Herbert Smith Freehills throws £105k at junior lawyers December 3, 2021 The ‘silver circle’ law firm has waded into the ongoing bidding battle for junior lawyers in the City by raising newly qualified lawyer salaries to £105,000, according to reports. Although their current “total compensation package” is £107,000, this includes both base salary and their bonus. But with the new announcement, Herbert Smith Freehills (HSF) lawyers [...]
Female lawyers on the clock for 100 hours more than male peers annually December 1, 2021 Unsurprisingly they are also among the least happy with the number of hours they work, according to a new report on law firms. The recent report by Thomson Reuters found that women practicing law were, on average, putting in 100 hours more than their male colleagues every year. One reason pointed out by Dana Denis-Smith, [...]