Slaughter and May cuts NQ lawyer pay to £87,000

Avatar photo

By Thomas Connelly on

COVID-19: Move comes just weeks after magic circle player suspended partner distributions

Slaughter and May has cut the salaries of its newly qualified (NQ) lawyers in a bid to negate the financial impact of the COVID-19 pandemic.

Associates due to qualify at the magic circle player this September will now earn a still relatively healthy £87,000. Pre-cut, Legal Cheek‘s Firms Most List showed NQ base rates sat at roughly £92,000, with performance bonuses bumping earnings to in excess of £100,000.

The cuts come just weeks after the firm deferred annual salary reviews and temporarily suspended all discretionary distributions to partners.

The 2020 Legal Cheek Firms Most List

Slaughters isn’t alone in cutting junior lawyer pay in response to the pandemic.

Last week, Legal Cheek revealed trainee pay at Taylor Wessing had been cut by 8% as part of a new flexible working programme. The firm also cut partner drawings by 20% and delayed salary reviews until the autumn.

Sign up to the Legal Cheek Newsletter

Related Stories

City law firms introduce belt-tightening measures in wake of COVID-19

Furloughs, pay cuts and partner profit deferrals

Apr 9 2020 12:11pm

Law students pessimistic about pandemic career prospects, survey shows

But future trainees think their TC offers will still be honoured

May 21 2020 11:00am

Taylor Wessing to cut trainee pay and hours by 8%

International player set to introduce flexi-working scheme in response to pandemic

May 13 2020 12:11pm