Linklaters is cutting pay for starting lawyers, and shrinking salary increases. The firm will pay new lawyers £61,500 ($91,300), down from £66,600 pounds in 2008.
Associates will get salary increases of two to four percent based on seniority, down from six to 10%.
Linklaters is freezing pay for non-lawyer staffers.
Lawyers and staff may qualify for merit-based bonuses, and will get £1,500 profit-related awards.
Linklaters has 26 offices in 19 countries, and is one of the five members of the “Magic Circle” of prominent UK law firms.
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