A report this week by City recruitment company Edwards Gibson arguing that law firms need to reassess pay for junior lawyers is particularly timely, given our cover story today.
The recruiter’s claim that top law firms should consider substantially cutting newly qualified salaries comes as Legal Week research shows staff costs at the UK’s leading law firms are continuing to soar, with total costs across the bulk of the top 30 up 7% year-on-year to a grand total of £4.5bn – well over a third of total fee income.
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