Global firm trimmed salaries in London and Birmingham earlier this summer
Hogan Lovells has reinstated full salaries for its newly qualified (NQ) lawyers, after it cut pay earlier this summer in the wake of the coronavirus pandemic.
NQ associates in the global firm’s London and Birmingham offices will return to a base rate of £90,000 and £48,000 respectively. In June, Legal Cheek revealed pay packets had been trimmed to £85,000 and £46,000 in response to the “challenges and uncertainties” presented by COVID-19.
The firm’s year two London rookies, who were held on a year one pay level of £46,000, will now move up to their year two salary of £51,000. This will be backdated to the August seat move, Hogan Lovells confirmed.
“Earlier this year, we took measures to manage our business in response to the challenges and uncertainties of the COVID-19 crisis,” a spokesperson for the firm said. “This included postponing UK salary and discretionary bonus reviews for lawyers until later in the year, and reviewing UK trainee and newly qualified (NQ) salaries.”
They continued: “We have now carried out the delayed salary and discretionary bonus review for our lawyers and told them the outcome of the review earlier this month. These compensation adjustments have been paid in October, and backdated to 1 May 2020.”
Hogan Lovells also confirmed a salary and bonus review for business services staff will follow later this month.
Legal Cheek reported in September that the firm had reversed a similar reduction to US associate salaries earlier this summer.