One-off payment to those earning £50k and below
Bird & Bird has announced that it will be paying a one-off bonus to its London staff to help with rising living costs.
The payment will be made to those with a salary of £50,000 and below in July’s payroll and will amount to £1,000 net of tax and national insurance. Over 300 employees are expected to benefit from the allowance.
This includes first and second year trainees, who currently earn £45,000 and £50,000 per annum respectively following recent wage hikes, as well as business support staff and more junior members of the business services teams. Newly qualified associates at Bird & Bird currently earn £88,000.
Bird & Bird are not the first firm to make such a gesture.
Irwin Mitchell made a one-off payment of £900 to the majority of its staff in April in light of “the challenging external circumstances affecting the cost of living”. Elsewhere, Legal Cheek reported last month that White & Case had increased both its LPC and GDL maintenance grants in response to the “difficulties” faced by many to meet their financial commitments.