Salaried partners have been sending in details of their wedge for the RollOnFriday Salaried Partner Survey 2010. And the initial results show that, even amongst large commercial firms, some salaried partners are paid 6 times more than others.
A few firms appear to be paying just £50,000 a year - that's what a final seat trainee at Jones Day takes home. Apparently this includes Manchester firm Pannone. Still, even if the pay's shoddy at least it's a simply marvellous place to work.
Unsurprisingly, the Magic Circle are at the top of the scale - Freshfields weighs in at £300,000. The firm actually has a very limited number of salaried partners, as most of those who make the cut go straight into the equity, and on a good chunk more dolla. However information is still thin on the ground for other Magic Circle firms, so click here to send in details.
Many decent-sized City firms seem to be paying around £130,000 - which is not much more than senior associates can earn. And with no guarantee of equity - most of Kirkland & Ellis's London partnership seems to be salaried - it's not surprising that many readers complain that it's hardly worth the late nights, screaming clients, disgruntled associates and the unceasing pressure to bill.
Firms are loath to confirm (or deny) these figures, so if you're a Freshfields partner on £50k (or indeed a Pannone partner on £300k) then here's your chance to put the record straight. A full run-down of everything we receive will be posted next week.
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A few firms appear to be paying just £50,000 a year - that's what a final seat trainee at Jones Day takes home. Apparently this includes Manchester firm Pannone. Still, even if the pay's shoddy at least it's a simply marvellous place to work.
Unsurprisingly, the Magic Circle are at the top of the scale - Freshfields weighs in at £300,000. The firm actually has a very limited number of salaried partners, as most of those who make the cut go straight into the equity, and on a good chunk more dolla. However information is still thin on the ground for other Magic Circle firms, so click here to send in details.
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Partners at Freshfields and Pannones yesterday |
Many decent-sized City firms seem to be paying around £130,000 - which is not much more than senior associates can earn. And with no guarantee of equity - most of Kirkland & Ellis's London partnership seems to be salaried - it's not surprising that many readers complain that it's hardly worth the late nights, screaming clients, disgruntled associates and the unceasing pressure to bill.
Firms are loath to confirm (or deny) these figures, so if you're a Freshfields partner on £50k (or indeed a Pannone partner on £300k) then here's your chance to put the record straight. A full run-down of everything we receive will be posted next week.