Canadian Law Firms Announce First Salary Increases for Associates Since 2021

For the first time since 2021, Canadian law firms are increasing associate salaries. Numerous top-tier national firms are raising the base pay for first-year associates by CA$5,000, bringing it to CA$135,000 in Toronto, the country’s largest legal market. Associates with four to six years of experience are seeing salary increases in the $15,000 range. The most senior associates in the lockstep pay system are benefiting from a $20,000 hike, now earning $255,000. It is noteworthy that after six or seven years, associate base pay shifts from a lockstep model to more variable discretionary compensation. For more detailed insights, visit the original article.