The pay hike is part of a broader plan to secure two waves of Kirkland & Ellis defectors, including an incoming group of seven associates and a team of six private equity partners who joined the firm in February. In addition to lifting associate pay, it is understood that Sidley will offer some of the new recruits a signing-on fee of up to £100,000 each in addition to their annual salaries.
Associates with one year PQE will see their salaries lifted from £95,000 to £105,000 while two years’ PQE associates will be brought up from £105,000 to £115,000. For lawyers with three years’ PQE the jump will be even bigger, from £115,000 to £129,000 annually.
Source: Legal Business
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