Since RollOnFriday's call two weeks ago for details of salaried partners' wedge, newly-minted partners across the City have been writing in to spill the beans.
The reports suggest that salaried partners at the biggest firms do very nicely indeed - those at the likes of Freshfields are likely to be trousering upwards of £300k. But new partners at mid-sized firms are often on little more than a senior associate (after taking into account associates' bonuses and benefits). In fact, some disillusioned new partners told RollOnFriday that with the loss of pension, healthcare and a guaranteed bonus they were actually worse off as a partner. And at the arse end of the table, some salaried partners earn less than a first seat trainee at a US firm.
All the firms have been given the opportunity to comment, but most have chosen not to - but anyone can click here to send in further information. As the figures are unofficial, and as pay may vary from partner to partner, treat these figures as no more than a general indication of the minimum levels paid.
So as the salaried partner roles have become more widespread, as law firms tighten the equity in response to falling profits, and with decent mid-sized City firms seeming to pay around £130k, senior associates can expect a long wait until receiving megabucks.
Tip Off ROF
The reports suggest that salaried partners at the biggest firms do very nicely indeed - those at the likes of Freshfields are likely to be trousering upwards of £300k. But new partners at mid-sized firms are often on little more than a senior associate (after taking into account associates' bonuses and benefits). In fact, some disillusioned new partners told RollOnFriday that with the loss of pension, healthcare and a guaranteed bonus they were actually worse off as a partner. And at the arse end of the table, some salaried partners earn less than a first seat trainee at a US firm.
All the firms have been given the opportunity to comment, but most have chosen not to - but anyone can click here to send in further information. As the figures are unofficial, and as pay may vary from partner to partner, treat these figures as no more than a general indication of the minimum levels paid.
| Firm |
Salary |
|---|---|
| Freshfields | £300k |
| Herbert Smith |
£230k |
| Ashurst | £165k + (average £250k) |
| Kemp Little |
£160k |
| Simmons & Simmons | £155k - 205k |
| SJ Berwin |
£150k |
| Stephenson Harwood |
£150k |
| Mayer Brown |
£140k + (average £165k) |
| Beachcroft | £140k |
| CMS Cameron McKenna |
£130k |
| Shoosmiths | £130k |
| Holman Fenwick Willan |
£130k |
| Denton Wilde Sapte | £125k - £150k (+ points) |
| Taylor Wessing |
£125k |
| Speechly Bircham | £123k + |
| DLA Piper | £120k - £150k |
| Berwin Leighton Paisner |
£120k (+ points) |
| Charles Russell | £100k - £150k |
| Irwin Mitchell |
£100k |
| Plexus | £80k - £110k |
| Thomas Eggar |
£62k |
| Pannone | £50k |
So as the salaried partner roles have become more widespread, as law firms tighten the equity in response to falling profits, and with decent mid-sized City firms seeming to pay around £130k, senior associates can expect a long wait until receiving megabucks.
Comments
72
70