Magic circle player also restarts staff pay reviews as part of an easing of financial measures put in place during the pandemic
Slaughter and May has confirmed associates will move through the salary scales from next month, following a suspension last year in response to the pandemic.
The magic circle player’s City associates will shift up the post-qualification pay bands on 1 May, as normal, it confirmed in a statement yesterday.
Slaughters also revealed its postponed salary reviews for staff across other areas of the firm, including senior counsel, business services employees, professional support lawyers, executive assistants and document specialists, have now taken place.
The news follows the firm’s decision earlier this year to bump the salaries of its newly qualified (NQ) solicitors to £90,500, having previously cut them due to the pandemic. The uplift did, however, fall short of Slaughter’s pre-Covid NQ pay packet of £92,000.
Earlier this month, Shearman & Sterling boosted NQ solicitor pay by 12.5% to £135,000, while Linklaters upped its Covid-cut salary of £90,000 to £92,500, plus a discretionary performance bonus.