Asia-Pacific

Check out this week's top Asia-Pacific news on the Asia Pacific Headline page.
  

Follow RoF

For all the breaking news, follow RoF on Twitter and Facebook

         
   
  

Glamour

Glamour
The legendary Glamorous Solicitor showcases the style, the beauty and the sophistication for which the legal profession is so rightly known.
  
  

News

Send Us Your News
Exclusive: Reed Smith hikes pay, one year after increasing chargeable hours
03 March 2017
Rate it
0

A year after telling its lawyers that their target hours were going to be increased from 1,500 to 1,600 while staying silent on pay, Reed Smith has finally hiked its salaries - and bonuses - to match.

In March last year RollOnFriday revealed that Reed Smith was increasing its chargeable hours target by 100 hours in 2016 (equivalent to 6.7% more work) and would add another 100 hours in 2018 (that's 13%). But in a poke in the eye to conventional views on morale, PR and basic numeracy, it didn't unveil commensurate rises in pay. However it has finally given in, confirming to RollOnFriday that there have been raises across the board. NQ pay has been hiked from £63k to £70k and junior associates' base pay is now between £70k and £80k dependent on performance. Mid-level associates will be paid between £80k and £100k and senior associates will start at £92k.

  Not that it had been on her mind or anything

All associates will also receive a bonus for hitting the 1600 hour target. Juniors will be paid £7k, mid-levelers £10k and seniors £13k, and performance-related bonuses will be available on top. It has been welcomed as a positive, if overdue, announcement.

RollOnFriday's source said it was a "good start" and that the "overall mood is that they've made a move in the right direction, given that they are asking us to work 7% more this year". Of course, "now they just need to make the same changes next year when we move again, to 1,700 hours".
 

Comments

Feel free to enter your comments on the news story below, subject to our terms and conditions. Please note that comments are subject to moderation and so will not appear immediately.

Please keep it nice. Thanks.

No Comments
  

Weekly Email Update

To receive a weekly European email update, please login or register to RollOnFriday.