Associate Raises Across the Pond

While raises in associate compensation have been all over the news here, the ripples have been felt in the U.K., where firms based both there and here have started upping the ante. Legal Week reported last week that Shearman & Sterling OK’d a 20% pay hike for newly-qualified lawyers, giving them a base of £72,000, or slightly over US$132,000. And Linklaters hiked salaries for new lawyers to £55,100 (about US$101,365), a hike of between 5% and 12%.