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Allen & Overy Raises Associate Pay

by on May 17, 2010

Roll on Friday recently ran an article pointing out that UK firms, including most recently Allen & Overy, were beginning to raise associate salaries after a year during which most firms froze compensation.

Allen & Overy has decided to modify bands for junior lawyers, albeit by starting with rather modest increases. The pay increases, which went into effect nearly two weeks ago, will see the firm’s salaries increase to about £61,000 for newly qualified attorneys and £74,000 for those with two years’ post-qualification experience.  The rates for trainees remain unchanged, while s,enior associate pay rates increased from £71,500-£84,000 to £85,000-£94,000.

Like most international law firms, Allen & Overy reduced or froze salaries in response to the economic downturn, but they are one of just a handful of firms that have, or are expected to, begin to get back to business as usual and reverse the trend of freezing associate compensation in the coming year

A&O’s move also comes on the heels of the firm’s promotion of 25 new associates worldwide.  From the firm’s press release:

“Allen & Overy today announces the promotion of 25 associates globally to counsel positions, recognising the valuable contribution these senior lawyers make to the business.

The promotions, effective from 1 May 2010, will be made across six different practice groups in 12 different offices.

Managing partner, Wim Dejonghe, comments: “These promotions reflect our continued commitment to investing in the long term future of our international business. Our counsel are highly experienced lawyers, often have deep technical expertise, and play a significant role in relation to our practices and our ability to serve our clients. Elevating these talented senior lawyers recognises their contribution to the overall success of Allen & Overy and provides them with a platform to continue to build their careers. I’d like to congratulate all of our new counsel on their achievement.”

To view new openings with Allen & Overy, as well as other firms with offices in Asia, please visit us at Law Alliance.

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