Compensation Matters

Freshfields Announces Associate Salaries Under New Merit Pay System

Legal Week

Freshfields has confirmed associate salaries under its new merit-based pay scheme, which came into effect May 1, with newly qualified lawyers set to make at least £65,000 -- £3,500 more than those at rival London firms. The firm said its existing associate bonus scheme will continue to apply.
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Associate Salaries Stuck in Holding Pattern at Slaughter and May

Legal Week

Magic Circle firm Slaughter and May has opted to freeze its associate salary bands at the same rates as last year, marking the second consecutive review in which associate pay levels at the firm have remained static. One exception: associates with two years' post-qualification-experience, who will see pay increase marginally, by 500 pounds.
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Allen & Overy Kicks Off Salary Season With Associate Pay Raises

Legal Week

The first of the Magic Circle firms to announce 2012-2013 pay rates, Allen & Overy is increasing associate pay between £500 and £1,000, matching newly qualified pay figures reached by other firms last year. Allen & Overy opted not to increase its associate pay levels last year due to what it called a "flat trading year."
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Australia Merger Talks Push Herbert Smith to Review Lockstep System

Legal Week

Merger talks with Australia's Freehills, which uses a modified lockstep system tied to individual performance, have led Herbert Smith to review its rigid lockstep structure, in an attempt to better align the two firms' remuneration structures and address criticism that pay for top earners has fallen behind key London rivals.
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Texas Lawyers Are Diving Into a Wider, Deeper Bonus Pool at Largest Firms

Texas Lawyer

The bonus pool at the largest firms in Texas was wider and deeper in 2011. Interviews with firm leaders show that the range of paid bonuses stayed the same, but firms paid more overall, because more associates qualified or earned bonuses on the high end of the range.
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Mallesons to Shake Up Partner Pay as 'Game-Changing' Merger Nears Launch

Legal Week

Mallesons is reviewing its lockstep system in preparation for the financial integration of its Hong Kong partnership with King & Wood's when the merger between the Australian and Chinese firms goes into effect next month. King & Wood's Hong Kong partners will shift to Mallesons' remuneration system, which is likely to become more flexible.
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'New York Scale' for Hong Kong Associates Raises Prospect of Salary War

The Asian Lawyer

The expansion of U.S. law firms is giving some Hong Kong associates the chance to nearly double their salaries. Is a pay war about to set a new standard in the market? Or will darkening economic clouds intervene?
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Federal Judge Conditionally Certifies Class of Former Paralegals Who Allege FLSA Overtime-Pay Violations

Texas Lawyer

In an order this month, a Texas federal judge has conditionally certified a class in connection with a complaint filed by a former paralegal at the Mostyn Law Firm in Houston over allegedly unpaid overtime pay in violation of the Fair Labor Standards Act.
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Hefty Expat Packages Endure for Foreign Lawyers in Asia

The Asian Lawyer

While lawyers in New York and London make do with flat bonuses, colleagues in Asia can count on a generous expat package worth up to $300,000, according to at least one recruiter. Typified by allowances for housing, children's tuition and club memberships, the perk is a remnant of an era when cities like Hong Kong were considered far-flung "hardship posts."
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Andrews Kurth Raises Base Salaries for Some Associates

Texas Lawyer

Andrews Kurth raised base salaries for its top-performing associates on Jan. 1, says Robert Jewell, the Houston-based firm's managing partner. The salary increase is for about 25 of the firm's 134 associates who have at least four years of experience and have worked 2,000 qualifying hours for each of the past two years, Jewell says.
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