City outfit cut salaries by £2.5k last summer
Baker McKenzie has today confirmed that the salaries of its newly qualified (NQ) lawyers have been restored to pre-pandemic levels.
The City giant’s fresh faced associates will once again receive an annual salary of £90,000, with previously delayed summer bonuses also paid out to eligible NQs.
Last June, Bakers reduced NQ pay by £2,500 (3%) to £87,500 as part of a number of belt tightening measures in response to the coronavirus pandemic.
A number of top firms have taken similar steps, including Clifford Chance, Bryan Cave Leighton Paisner, Macfarlanes and Reed Smith. Others, meanwhile, upped pay packets but failed to match pre-Covid levels. They include magic circle duo Linklaters and Slaughter and May.