Catch-up cash for UK lawyers and staff
Magic circle player Freshfields is the latest law firm to hand out bonuses to lawyers and staff. The additional cash comes after the firm, like many of its City rivals, opted to freeze pay in April 2020 to negate the financial impact of the coronavirus pandemic.
All eligible UK lawyers and support staff will receive bonuses, with the firm aiming to fully compensate staff for the salary freeze which was eventually lifted in April of this year.
Legal Cheek understands the awards are not so-called ‘Covid bonuses’ like those favoured by many City outfits, but rather bonuses in recognition of its positive financial results during a uniquely challenging year.
Freshies’ MC rivals have dished out extra cash in recent months too, with Allen & Overy, Clifford Chance, Linklaters and Slaughter and May providing lawyers and staff with special 5% one-off bonuses.