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Shearman ramps up associate pay as talent war heats up
Newly-qualified lawyers at Shearman & Sterling will see their salaries increase by £7,000 to £95,000 this year, with the firm dishing out higher pay across the associate ranks as City salaries soar.
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The raised salary for NQs at Shearman will see them pocket £4,000 more than their peers at Linklaters, £10,000 more than at Freshfields Bruckhaus Deringer and £23,500 more than at Slaughter and May.
Mid-year associates, with three and a half year's post-qualified experience (PQE), have seen the biggest percentage increase in pay, with salaries up 10 per cent to £126,000. But senior associates, with six and a half year's PQE, scored the biggest monetary rise as pay rose by £12,000 to £156,000.
The changes apply to UK lawyers across the firm and took effect on 1 May.
Source: Legal Business
