Most U.K. firms with City practices have now announced their new associate pay deals. Freshfields Bruckhaus Deringer, Herbert Smith, and Linklaters are among those who have announced significant increases in pay for their junior attorneys. They are following the lead of Allen & Overy and Clifford Chance, the first to go public this spring with their new salary structures. While none of the firms are attempting to match the $160,000 that some American firms — most recently Orrick, Herrington & Sutcliffe — pay first-year associates in the United States, many London associates will still enjoy hefty raises in the 15 percent range.
At Freshfields newly qualified lawyers now start at �65,000 ($130,000), up 16 percent from last year. Salaries for attorneys with one year of postqualification experience have risen to �71,500 ($143,000), while those with three years’ postqualification experience will earn �90,000 ($180,000). The firm offers associates with experience of six months to two years a potential bonus of �20,000 ($40,000), and then a potential bonus of �35,000 ($70,000) for associates with up to four years experience.
