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| In what might be the last in a series of consecutive annual pay rises for practitioners in Hong Kong, their salary increase for 2008 averaged 10%. Recent statistics compiled by legal recruiters Lewis Sanders, reflecting non-US qualified lawyers, professional support lawyers, human resources and business development professionals in the city, paint a telling picture of a the boisterous economy the city enjoyed in the first three quarters of the year. Yet salaries ranging from a HK$60,000 per month for newly qualified counsel to HK$220,000 for salaried partners belie the reality firms now face in the aftermath of the global financial tsunami. The agency is already noticing an increase associate redundancies in the region, in what will likely be a continuing trend. |
