The rises mean a newly-qualified solicitor based at the firm’s
Senior associates will receive salary increases on a discretionary basis, with the base salary level moving up to £170,000 a year.
Trainee solicitors will also get a bump-up from the review, with first-years now pocketing £39,000 – up from £36,500 – and second-years in line for £41,500. The increases will make them among the highest-earning trainees in the City.
Commenting on the move, new Shearman London chief Anthony Ward (pictured) said: “These healthy increases reflect not only our strong market position on
He added: “Furthermore, it is indicative of the value which we attribute to the ongoing contribution, commitment and engagement of our associates and trainees.”
Shearman becomes the first major firm to announce salary increases this year, with a raft of
However, few firms are expected to make major increases as advisers continue to feel the impact of the credit crunch. City giants Clifford Chance and Linklaters among those to have already indicated to Legal Week that substantial raises for their junior lawyers are unlikely.
Stay up to speed with all the latest salary changes with the Legal Week Wiki pay league.
