Lawyr.Org

Herbert Smith has confirmed that it will not be increasing associate salaries for the next financial year. The announcement, which comes after the firm last year reported a drop in profits per equity partner of 2.3 percent, falls into line with widely held predictions that associate salaries across London would stay flat for 2008 following the market downturn. Linklaters defied these expectations earlier Wednesday when it announced a 4 percent pay increase for its associates.