Many law firms make a clear decision not to pay bonuses to junior lawyers. However, those businesses instead compensate them with large fixed salaries.
Using statistics from Emolument, which benchmarked the salaries of associates to compare earnings across the UK’s top firms, we unveil the legal companies in the nation that offer great pay packages. (1) Latham & Watkins Median salary: £107,000 Bonus: None Lawyers at Latham earn far more than those at “magic circle” firms – the five most prestigious legal practices in the UK – and even more than the basic salaries of associate bankers at the UK’s top banks. As a case in point, 2015 saw associates at JP Morgan earning an average salary of £93,000, which was the highest of any bank in Britain. This is largely due to the fact that in terms of revenues, the firm is the largest in the world. However, Emolument suggested that while the best compensated bankers get an average bonus of £83,000, for many lawyers – including those at Latham & Watkins – there’s no bonus of any kind. Read more articles about wages:- If you can’t take the National Wage Heat, get out of business
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