Weil, Gotshal & Manges has dropped the starting salary of newly qualified lawyers in its London arm by 5.5 percent to 85,000 pounds ($137,500). Despite the drop, Weil remains one of the most generous firms in the London market, offering its newly qualified lawyers 25,000 pounds ($40,400) more than the current benchmark rate for top London firms of around 60,000 pounds ($97,000). Salaries for all associates will be frozen.
July 07, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Weil, Gotshal & Manges has dropped the starting salary of newly-qualified lawyers in its London arm by 5.5 percent to 85,000 pounds ($137,500).
The move sees the firm become the latest practice to halt associate lockstep in response to the current recession, with its incoming U.K. lawyer salaries slipping from the previous rate of 90,000 pounds ($145,600).
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