Early Christmas present
Slaughter and May has increased the salaries of it’s newly qualified (NQ) lawyers to £125,000 — a 7% bump from £115,000.
The raise brings the outfit in line with Magic Circle companions Clifford Chance, Linklaters, Freshfields Bruckhaus Deringer, and Allen & Overy, all of which offer the same NQ rate.
As recently as 2021, the firm offered NQs £90,500, nearly 40% lower than the new figure.
Commenting on the raise, a spokesperson for Slaughters said:
“We are pleased to announce that we have completed a review of salaries for all associates. Our NQ salary will increase to £125,000, and all associates will move through the scales.”
Slaughters offers around 95 training contracts each year, with trainees earning a salary of £50,000 in year one and £55,000 in year two.
Earlier this year, the firm also increased its SQE maintenance grant from £17,000 to £20,000.