Freshfields unfreezes associate lockstep as firm unveils 2010 rates

Finally - now I might start getting paid what I deserve for the daily office beasting.

Other firms will have to follow, surely?

Associate -25 Feb 2010 | 12:14

Ker-ching (sort of...)

This isn't exactly a super-generous move - all that's really happening is that the lockstep rates aren't being downgraded again (i.e. this year, you will actually move up a level for the extra experience you have...).

Coming up to 2PQE and still on what I was earning as a clueless NQ, it's about time.

Assistant X -25 Feb 2010 | 13:22

My heart bleeds for the poor dears. It is not the current salary levels that are wrong, it was the salary levels of two years ago that were too high. But no-one complained then that they were being overpaid for 'the office beasting' or as 'a clueless NQ'.

Realist of planet earth -25 Feb 2010 | 14:01

Of course not...

Of course no-one complained they were overpaid - human nature, innit?

Let's not do the "what's a right salary" thing; there isn't really one, beyond what the market sets. In this instance, the market appears to recognise that two years' extra experience should mean extra cash. Fair enough.

Assistant X -25 Feb 2010 | 14:20

Que?

"Coming up to 2PQE and still on what I was earning as a clueless NQ, it's about time."

Let's not get ahead of ourselves. One is still clueless at 2PQE, my friend.

Dirk Bogarde -25 Feb 2010 | 16:51

Assistant X - why shouldn't we play the "what's a right salary" thing - after all, this is the market. Perhaps it's a lawyer thing - that's the right question, but difficult to answer, so I'll ignore it and focus on something else.

The market doesn't recognise that two years' extra experience means more cash - you've got two years' extra experience and you haven't got extra cash!

Perhaps you should leave and go somewhere which values you more (and pays you more). Or perhaps you've tried that... human nature innit.

Fair enough.

Realist of planet earth -25 Feb 2010 | 17:42

Not too generous

Freshfields' move is not too generous considering that almost all well-performing US firms that care for their associates recently gave them double bumps, often accompanied by a make whole bonus. If I am not mistaken, Allen & Overy also awarded double bumps, at least to its US associates so far.

Associate -26 Feb 2010 | 13:53

FYI - whilst Allen & Overy and the other magic circle firms froze assistant salaries in the US, Freshfields assistants in their New York and DC offices suffered NO pay freeze and have continued to be paid market.

Anon -26 Feb 2010 | 16:48

Oh for crying out loud, the Links "increase" merely brings them back to parity with the other firms and while Links did not freeze salaries, they tweaked each band so the Links bloke still earns the same as any CC, A&O or Freshfields dude at the same PQE level +- a few grand.

Anon -26 Feb 2010 | 16:53

What about Sept qualifiers?

Can someone tell me what generally happens to September qualifiers in this situation? As someone who qualified in Sept 2008 I will be just over 1.5 yrs qualified when it comes to annual review and pay increases in April/May. Will they tell us we're still only 1PQE and not pay us more, or will they bump us up to the 2PQE pay?

Incidentally, as the last qualifiers before the NQ pay was reduced, we have been paid c£65k since qualification, which is going to be the rate for a 1PQE... can see where this is heading, they'll probably tell us we've been overpaid for a year and won't get a rise!

Inbetweener -01 Mar 2010 | 12:06

Associate salaries have not kept pace with partner salaries (in proportionate terms) - and indeed have not kept pace with London cost of living (with the huge property bubble, council tax rises and huge Labour stealth taxes across the board - mainly aimed at people on associate levels of pay). Plus partners - even in this 'bad period' are earning not far off the highest profits in history. So associates are massively underpaid (particularly the more senior ones).

angry associate -02 Mar 2010 | 13:31

Of course, associate salaries have kept pace with partner earners and the cost of living in London - what unmitigated twaddle.

Mr Anon -03 Mar 2010 | 13:43