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Slaughter and May raises newly qualified lawyer pay to £150,000

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By Rhys Duncan on

35

Pay review brought forward following recent market movement

Salaries
Slaughter and May has increased pay for its newly qualified (NQ) lawyers to £150,000.

This marks a 20% salary boost from the firm’s previous pay of £125,000, and brings Slaughters in line with fellow Magic Circle players A&O Shearman, Clifford Chance, Freshfields, and Linklaters, all of whom increased salaries earlier this year.

Back in June the firm held off on boosting NQ pay, stating that it was “carefully considering” its position, although did increase compensation for trainees from £50,000 to £56,000 in year one and from £56,000 to £61,000 in year two.

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“Following recent market moves”, however, the firm has chosen to bring forward its annual November pay review to hike NQ salaries back in line with the rest of the Magic Circle firms.

A spokesperson for the firm told Legal Cheek:

“We have now completed a review of salaries for all associates and our NQ salary will increase to £150,000, effective from 1 September. Our approach to pay reflects the firm’s values, allows us to attract and retain the best talent, and ensures that we maintain our culture of excellence and collegiality.”

35 Comments

Hahahahah

Forced to raise by Simmons movement, wow..

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(74)(2)

Not Rupert

Now dass mo’like it!

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(7)(0)

Prestige and money

Thank you Simmons!

Reply Report comment
(39)(0)

SM NQ

They mentioned in the email they upped the rest of the scales. Any associates know how much the bands have increased?

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(13)(0)

Prestige and money

27.5k (2.5 NQ)

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(16)(0)

Bandy

Yes do tell bands pls

Reply Report comment
(4)(0)

Insider

1-1.5 – 150
2 – 158
3 – 175
4 – 191
5 – 201.5

Reply Report comment
(30)(1)

SM NQ

Damn that’s awful compression for the first couple of years. 8k from NQ to 2PQE??

Reply Report comment
(18)(6)

Prestige and money

It’s a bad list

S&M SA

Worth mentioning that our bonus is shite (0-15%) compared to the 30-75% bonus at the other MC firms.

Time to dust off my CV to work at K&E/Latham. Money is more important than perceived prestige.

Reply Report comment
(49)(3)

Bob

That’s the real kicker. Total compensation for a high-performing senior associate at my MC firm could hit 400k. It sounds like total compensation for a senior associate at S&M would struggle to hit 250k.

Also, not really convinced S&M ‘prestige’ is any greater than any other MC firm.

My kingdom for a horse

A perfect encapsulation of S&M: forced to raise by snobbery as couldn’t face being nearly matched by ‘the paupers’ Simmons.

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(51)(2)

Tom

Legal Cheek commenters in shambles.

Multi-specialism, prestige, FTSE 100 boardroom adviser of choice, partners dining room, academic elite, highest PEP in the UK.

Add to that 150k salary.

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(28)(81)

On second thought

Multispecialism – pro or con in the modern world? Debatable.

Prestige – highly subjective.

FTSE 100 boardroom adviser of choice – not really a flex is it unless you’re the S&P 500 adviser of choice.

Partners dining room – other firms have this too.

Academic elite – debatable.

Highest PEP in the UK – more so highest PEP amongst UK firms.

150k salary – not a flex against US firms.

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(47)(24)

realist

Academic elite really isn’t that up for debate with Slaughters to be fair, they’re well known for their penchant towards it

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(44)(29)

Anon

Ah yes, all those Oxford classicists they hire make fantastic verbose lawyers. The best Oxbridge lawyers still go to the bar.

Reply Report comment
(52)(1)

Salt Bae

Partners’ dining room….haha you lad!

This made me laugh.

Reply Report comment
(1)(0)

Anon

Embarrassing that it took so long and their hand was forced by firms with a fraction of their PEP increasing to over and above their previous salaries. Also how do firms put out these cringeworthy PR releases with a straight face.

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(38)(1)

Reality Check

Delaying associate pay rises helps maintain a culture of collegiality? Perhaps if they have Stockholm Syndrome!

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(31)(1)

DWF employee

Woof. More than DWF managing partner.

In DWF terms – this is a big sticking plaster of a pay rise!

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(14)(0)

Daniel

Surely not

Reply Report comment
(2)(2)

DWF employee

Daniel – Twas bantz, but potentially believable.

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(10)(0)

Excited observer

Will be intersted to see how Travers responds to this.

Reply Report comment
(8)(10)

Huh?

Perhaps you’ve been living under a rock for two months? Practically all other firms have made their increases already (SC firms included). I suppose the next round will be mildly interesting (possibly in Jan 2025 – not guaranteed) if, say, the MC move again and SM refuse to budge whilst firms with lower PEPs catch-up. For now, you seem a tad confused, unless the joke has whooshed over my head…

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(14)(1)

Future Slaughters trainee

Owe you one Simmons

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(35)(0)

SandM associate

They have done a flat £25k increase to all previous bands.

Some people will have seen a slightly bigger increase due to jumping to the next rung on the ladder at the same time.

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(13)(0)

X

The partners did it begrudgingly lol

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(24)(0)

Regional observer

I love the trend of slating on Slaughter and May regardless of whatever they do lol

Reply Report comment
(35)(5)

Kirkland NQ

Peanuts

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(14)(6)

Giant

For that, they get to build a birdhouse in your soul.

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(8)(0)

Anon

Too little too late.

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(8)(0)

Casual Pay War Enjoyer

Turns out you can’t pay your mortgage in prestige after all…

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(18)(0)

S&M trainee

Simmons I’ll give you a beer, I owe you one

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(9)(0)

Genie

Paid too much and squawking for more because you think you are worth it? Somewhat arrogant when you think that the vast majority of people work and get paid barely enough to make ends meet.

Reply Report comment
(0)(1)

disappointed S and M

About bloody time anyways – stingey slaughters. Prestige can only hold off so much.

Reply Report comment
(9)(1)

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