Macfarlanes’ partner pay outstrips Magic Circle’s in surging to highs of almost £2.5m July 26, 2022 Partners at ‘Silver Circle’ law firm Macfarlanes are set to receive payouts worth almost £2.5m this year, after profits at the City firm surged. The bumper payouts mean partners at Macfarlanes will be handed sums worth significantly more than those paid out to top lawyers at London’s elite Magic Circle firms. Partners at the City [...]
Legal market slump could force lawyers back into offices, Keystone Law chief says July 21, 2022 A slump in the market for legal services could see the UK’s top law firms put greater pressure on their lawyers to return to offices and see them begin to lay off newly hired staff, Keystone Law founder James Knight told City A.M. The push could in turn benefit fully-remote law firms such as Keystone [...]
Holiday for part time staff should not be pro-rated, Supreme Court rules July 20, 2022 The UK’s Supreme Court today ruled that a visiting music teacher on a zero hours contract should be entitled to the same holiday benefits as her full-time colleagues. The landmark ruling is set to open the door to claims from hundreds of thousands of part-time and casual workers for the same holiday pay as their [...]
Millions of Brits looking to move abroad in search of a better life as cost of living crisis becomes unbearable July 20, 2022 A staggering 4.5m Brits are considering moving overseas for a better quality of life, as a result of the cost of living crisis and for better career opportunities. In fact, over 3.4m UK working adults say moving outside of the UK is a long-term goal of theirs, while 3 per cent admit they are actively [...]
Planned redundancies down by a fifth as firms spooked by pandemic’s impact on labour shortages July 20, 2022 Firms are putting off planned redundancies despite rising business rates and inflation, after being spooked by the pandemic’s impact creating severe staff shortages. The number of redundancies has fallen by 21 per cent from in the last quarter according to law firm GQ|Littler. The figures show it dropped from 50,382 to 39,669 up to the [...]
FTSE 100 reverses early losses on strong Wall Street gains July 19, 2022 London markets whipsawed today as investors’ concerns about a bigger Bank of England rate rise were tamed by strong gains on Wall Street. The capital’s premier FTSE 100 index surged 1.01 per cent to 7,296.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed [...]
Clifford Chance partners see pay packets surge to record highs of more than £2m July 19, 2022 Partners at Clifford Chance are set to see their pay packets surge to £2m for the first time in the law firm’s history after the Magic Circle law firm revenues surged by 8 per cent to highs of £1.97bn. Clifford Chance’s equity partners will take home a record £2.04m this year after the law firm’s [...]
Steaming inflation cuts Brits’ spending power at fastest pace on record July 19, 2022 The number of Brits in full time work reached record highs in the three months to May as unemployment rates held at 3.8 per cent, official figures have revealed today.
War for talent and skyrocketing wages push fees at job giant Hays to record levels in 15 countries July 14, 2022 Recruitment giant Hays said this morning the company is benefiting from higher wages around the world as it sets up potential candidates with jobs in industries. Job numbers have been strong, leading to increased competition from companies for workers, and helping to push up pay – although often not by enough to offset runaway inflation. [...]
Baker McKenzie ups pay for new lawyers to £110,000 a year July 12, 2022 Baker McKenzie has given newly qualified (NQ) lawyers in its London offices £5,000 pay rises after upping their salaries to £110,000 a year. The Chicago headquartered law firm said its freshly trained lawyers will see their base pay surge to heights of £110,000 plus bonuses. The pay hikes mean Baker McKenzie’s trainees will now see [...]