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Slaughter and May ups newly-qualified solicitor pay by 4% to £83,000

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Xmas bonuses for junior lawyers and trainees, too

Slaughter and May’s London office

In a bid to spread a little festive cheer among its junior lawyer ranks, magic circle player Slaughter and May has upped salaries and dished out some seasonal bonuses.

Newly-qualified (NQ) lawyers at the magic circle firm will now earn a base salary of £83,000, a rise of £3,000 or 4%, which Slaughters said was to reflect current market rates. Further up the ladder, those with six months’ post-qualification experience (PQE) will earn a salary of £86,000, an increase of £2,000 or 2%, while one-year PQE associates will see pay move from £88,000 to £89,000 — an extra £1,000 or 1%. Lawyers with 1.5 years’ PQE will receive £93,750, again a rise of £1,000 or 1%. The rises will take effect on 1 January 2019.

The 2019 Firms Most List

Base salaries aside, the Bunhill Row outfit also confirmed associates achieving “a good or exceptional level of performance” will receive Christmas bonuses.

Newly-qualified lawyers will receive an extra whopping 8.25% of their basic salary as a bonus, while bonanza bonuses at the 6.5 year PQE level will be an extra 14.6%. Trainees and support staff will receive 3% of their base salaries.

Slaughters’ seasonal uplifts follow summer pay boosts for trainees. The firm upped first-year trainee pay to £45,000, up 2% from £44,000, while those a year ahead see pay jump from £49,000 to £51,000 — a rise of £2,000 or 4%.

Turning to the firm’s performance in our Trainee and Junior Lawyer Survey 2018-19, Slaughters scored As for training, quality of work, perks and office, but could only muster a B for peer support. The four-office outfit offers around 85 training contracts annually.

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56 Comments

Anonymous

They’ve done it again. Easily the best British law firm to work for, by far. Obviously not even close to US rates, but compare what Slaughers has to offer to a shithole like BCLP or even Links.

(26)(50)

Anonymous

Hi HR.

(23)(1)

Anonymous

Slaughters is not the best British law firm to work for. Silver circle offer better work life balance to compensate for lower salaries.

If you want to take the money, just go and work at a US elite firm.

Slaughters is the worst of both worlds.

(47)(10)

Anonymous

LMAO u high?

(0)(0)

SandM

I am confident that US firm peers work longer hours than I do, and that silver circle firm peers work the same if not worse ours too.

(3)(17)

S&M Partner

Hear hear old boy, here’s a raise.

(5)(0)

Anonymous

Keep telling yourself that US firm peers work longer hours…. it doesn’t make it true

(14)(2)

SandM associate

That’s probably because you are in one of the lazy groups like competition, tax, IP/IT or pensions who regularly clock less than 30 billable hours per week but benefit from the socialist structure of salaries and bonuses to max out on the cash.

I expect a thank you card in the internal tray for financing your cushy lifestyle whilst killing myself every week for no reward.

(24)(7)

SandM

I am in corporate. I go home by 8pm or 9pm most evenings. Not unusual.

Anonymous

Tbh – aren’t those who are in competition, tax, IP/IT and pensions the smart ones, and you the mug for subsidising their pay?

anonymouse

True, and most (if not all) lawyers working in such departments are smarter since the work is more complicated and requires actual brain power instead of doing endless due diligence or running template checklists.

This is why they do not (and should not) be required to sustain such kind of work like someone from the Corporate/Finance department does.

It’s akin to the reason why iBankers are able to work 90 hours a week, simply because their tasks are mechanical and do not require much actual thinking.

Anonymous

This is such a load of horsec*ck. Are u high?

Anonymous

This is completely wrong. I work in funds and by the nature of the task at hand the hours can be long but the work is extremely technical and not mechanical.

Anonymous

That’s such bollox

Anonymous

LMAO, never read anything so funny in my life. Good luck telling Nigel Boardman that you’re smarter than him.

Anonymous

Nigel Boardman only got a 2.1 from Bristol so pretty sure I am

Lazy IP/IT associate

Work smart, not hard…

Anonymous

*hours

(0)(1)

Dechert Trainee

na bruv best form in da citi iz Dickfart LLP.
dem manz have baaaare banta
yeah okz we iz a shit firm but still, we haz Ms Clegg
wt haz you gotz?

(2)(0)

Anonymous

Lol at Dechert

(1)(0)

Anonymous

Mrs Clegg has gone babes xx

(2)(0)

Anonymous

Rofl

(0)(0)

Anonymous

Bit of a battery farm tbh.

(0)(0)

SM_2Q

No, this is terrible journalism – complete regurgitation of the firm’s PR.

– Bonuses at every level except trainee down on last year.
– Pay freeze (again!) at 2Q and upwards – at these levels, pay is now unchanged since December 2016.
– Combination of reduced bonus + pay freeze means that 2Qs and upwards receive lower total comp than people at the same level last year. That’s called a pay cut.
– All this in a manically busy year for the firm.
– A lot of associates thinking that we can earn more or work less elsewhere.

Remember that SandM bonuses (though given at Christmas and notionally ‘discretionary’) only serve to bring us (at best) to the base levels at HSF / FBD / CC.

(44)(0)

SandM associate

Yup, another pay cut from the partners who keep saying that these past few years have been exceptionally profitable. No wonder.

(27)(0)

SM_2Q

And the sheer cynicism of increasing the NQ rate because that gets you a few headlines like this one. As though people in the firm won’t notice what’s happened elsewhere.

(16)(0)

Anonymous

Where is the loyalty brah? Working for a law firm should be like supporting a football team. Class of ’92 wouldn’t have the legacy it does today if everyone scarpered in the mid 90s. Give it some more time soldier.

(4)(1)

Anonymous

Ouch, this is harsh.

(0)(0)

SandM

Agreed but not entirely fair. HSF and CC’s headline pay is inclusive of bonus, which means we are in line with them. Not sure about FBD.

(0)(0)

Anonymous

90% of income tax revenue (£181.4bn last year) was paid by the richest 50% of taxpayers.

More than a quarter of total income tax receipts (say £45bn) was paid by the richest 1%.

The few are paying for you.

(27)(0)

Anonymous

The banks were bailed out and their greed and incompetence paid for by our politicians!

End city greed now!

Vote Corbyn

(1)(9)

Anonymous

As has been demonstrated above, very high salaries prop up the Exchequer to the tune of more than £100bn each and every year.

Are you able to engage with that, or are you only able to recite slogans?

(1)(3)

Anonymous

Full salary transparency now!

We need socialism to pay for social solutions to our deeply divided country!

Very high incomes will need to be appropriated for the common good!

The media will need to be co-ordinated and regulated to ensure that fair speech is enforced! Implement Leveson now! Regulate Legal Cheek!

VOTE CORBYN – FOR THE MANY, NOT THE FEW!!!!!!

(3)(11)

Anonymous

Agreed

We need to take the politics out of taxation, massively increase it now to pay for much needed investment

Who needs £80k in their twenties?????????!

Kronos' biggest fan

Kronos – what is your view in comparison to Greenberg Glusker LLP?

(18)(0)

Anonymous

Top

(1)(0)

Anonymous

I failed at interview with Greenberg Glusker LLP. In consequence my wife left me, my parents disinherited me, my old college disowned me and my children laugh at me. On Skype, of course, because I’m not allowed to meet them anymore.

(0)(0)

Anonymous

Comments deleted.

(0)(0)

Anonymous

This is all well and good but why are so many US firms missing from Legal Cheek’s Most Lists?

(5)(0)

Anonymous

Because the Legal Cheek team probably haven’t heard of them, don’t receive any sponsorship, or aren’t actually interested in reporting on proper firms which students will, on qualification, be eyeing up.

To think that Pillsbury Winthrop Shaw Pittman LLP is not included, for example, makes a mockery of the entire Most Lists.

(7)(0)

Anonymous

But what about Dewey Pegno & Kramarsky? A strange old man wearing brown suit once told me they were absolute top.

(6)(1)

Anonymous

This comment is surely a joke. Pillsbury Winshit Mickey & Mouse LLP? Who the fuck are they?

(1)(0)

Anonymous

They pay more than your firm, Trowers.

(3)(0)

Anonymous

An elite US law firm. You should look them up.

(0)(0)

Anonymous

Their lawyers must make so much Pilsbury dough my boy!

(0)(0)

Anonymous

“Whopping” 8.25%?! So about 6k pre-tax.

A bonus of 3k.

(7)(0)

anonymouse

*laughs in investment banking 60% base salary bonus*

(12)(0)

MsPacman

Can we see some calculations on who pays most per hour (average obviously, and I’m happy so see some error margins)

(3)(0)

Anonymous

I’m struggling to grasp why you’d work at any uk firm when even mid market us firms like jones day, dechert and orrick pay more than them. The work isn’t Interesting anywhere so you might as well chew the money.

(18)(0)

S&M Associate

Are Mintz Levin hiring at the moment?

(2)(1)

Anonymous

Top top firm.

(0)(0)

Greenberg 'the Glusker'

Yes, but it’s not a top, top titan.

(3)(0)

Anonymous

I want a raise sir. Pwease.

(0)(0)

Anonymous

Cometh the hour

Cometh Jeremy Bernard Corbyn

A super tax on this greed!

Brothers, Sisters, Xers!

This Tory government has imposed artificial austerity for too long!

50% tax on all incomes above £50k!

A windfall tax on law firms to pay for legal aid!

FOR THE MANY, NOT THE FEW

(2)(5)

A pleased well spoken man

I am very pleased. More money for me to go to Aruba.

(1)(0)

SLAUGHTERS MORE LIKE CUCKSTERS RIGHT

imagine sweating in corporate or financing for 80 hours a week [which are pretty much all that slaughters do] only to get a notional pay rise

(3)(0)

Comments are closed.

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