Steaming inflation cuts Brits’ spending power at fastest pace on record July 19, 2022 The number of Brits in full time work reached record highs in the three months to May as unemployment rates held at 3.8 per cent, official figures have revealed today.
War for talent and skyrocketing wages push fees at job giant Hays to record levels in 15 countries July 14, 2022 Recruitment giant Hays said this morning the company is benefiting from higher wages around the world as it sets up potential candidates with jobs in industries. Job numbers have been strong, leading to increased competition from companies for workers, and helping to push up pay – although often not by enough to offset runaway inflation. [...]
Baker McKenzie ups pay for new lawyers to £110,000 a year July 12, 2022 Baker McKenzie has given newly qualified (NQ) lawyers in its London offices £5,000 pay rises after upping their salaries to £110,000 a year. The Chicago headquartered law firm said its freshly trained lawyers will see their base pay surge to heights of £110,000 plus bonuses. The pay hikes mean Baker McKenzie’s trainees will now see [...]
Exclusive: Nearly a quarter don’t think their employer can survive a recession July 12, 2022 Nearly a quarter of people polled recently don’t think their employer will survive an anticipated recession. The figures, exclusively shared by MHR with City A.M., highlighted that 78 per cent of 1,840 people surveyed think there will be a recession, and 23 per cent don’t think their employer will survive. With inflation above nine per [...]
Weak British pound sees salaries paid out to Akin Gump’s new lawyers surge to £179,000 a year July 11, 2022 Newly qualified (NQ) lawyers at US law firm Akin Gump are set to see their salaries surge to new highs of £179,000 a year, after the firm amended the exchange rate it uses to calculate its London lawyers pay packages to reflect Britain’s weaker pound. The exchange rate switch up will effectively mean NQ lawyers [...]
CMS hikes pay for newly qualified lawyers to £100,000 a year July 8, 2022 CMS has upped pay for its newly-qualified (NQ) lawyers for second time in a year, after raising their salaries to sums of £100,000 a year. The £5,000 pay rise for CMS’ freshly trained lawyers comes just a few months after the firm upped pay for its NQs to £95,000 a year in December 2021, according [...]
UK hiring boom slows as labour shortages and economic uncertainty scupper recruitment efforts July 8, 2022 The UK’s hiring boom is showing signs of coming to an end, according to new research from KPMG, which show the number new hires grew at its slowest rate in 16-months due to a lack of candidates and wider economic uncertainty. The fast-paced growth in the number of new hires has dropped off significantly [...]
PwC partners set to receive record payouts of more than £1m this year July 7, 2022 Partners at PwC are set to earn more than £1m each for the first time ever this year, after an “exceptional” trading period boosted the accountancy firm’s profits. The accounting firm has told partners that their £920,000 profit-per-partner pay packages will be bolstered by £100,000 windfalls from the sale of PwC’s global mobility services business, [...]
Bird & Bird hands staff £1,000 each to deal with UK’s cost-of-living crunch July 5, 2022 London law firm Bird & Bird is set to pay £1,000 bonuses to more than 300 of its staff to help them deal with the cost-of-living crisis. The law firm said it will give £1,000 “cost of living allowance” payments to all employees who earn less £50,000 per annum this month, to help them manage [...]
Recruitment guru Paul Farrer warns employers half of all Brits are currently looking for a new job July 4, 2022 Sixty per cent of all workers are currently looking for a new job, with as many as just under half of them searching for a new role due to the cost of living crisis. That is the warning from Paul Farrer, the founder and chairman of recruitment giant Aspire. According to research carried out by [...]