May

27

Associate Pay

May 27, 2009 | Leave a Comment

The Lawyer reports that

Linklaters has cut associate pay bands by an average of 7 per cent and slashed bonuses across the firm. Linklaters associates will move up through the salary bands this year, but reduced rates mean that most junior lawyers will receive a pay rise of between just 2 and 4 per cent.

This is taking place at a time when the firm will have to pay up to £50m in compensation to departing partners, as new details emerge of the cost of the firm’s New World restructure.

The firm is offering an exit package of one year’s pay to partners leaving as a result of the New World programme.

It is understood that around 50 partners – nearly 10 per cent of the global partnership – will be shown the door in the coming months as the firm bids to become a smaller, more profitable outfit.

ItsMyLaw is positioning itself to help the lawyers with transition that comes with this type of news.  Whether a lawyer is making a conscious decision to work as a contractor or is seeking support and guidance in the search for alternative career opportunities, the ItsMyLaw Career Transition service is ideally placed to ensure that change is made as seamless as possible


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