Weil Gotshal Cuts Starting Salaries in London

Weil, Gotshal & Manges has dropped the starting salary of newly qualified lawyers in its London arm by 5.5 percent to 85,000 pounds ($137,500). Despite the drop, Weil remains one of the most generous firms in the London market, offering its newly qualified lawyers 25,000 pounds ($40,400) more than the current benchmark rate for top London firms of around 60,000 pounds ($97,000). Salaries for all associates will be frozen.