Those poor Slaughter and May NQs! Getting by on just £61,500 a year. Thanks to the firm, then, for raising salaries for newly-qualifieds to £63,000, ensuring that a new car is well and truly on the cards.
Indeed, Slaughters has followed what is becoming something of a market trend at the top end by increasing pay for all its more junior employed lawyers, from trainees (who will be on a measly £44k from 1 May) to three-year PQEs on £87,500.
This comes after Allen & Overy hiked its trainee salaries for the first time since 2010 to £39,000 for firsties and £44,000 for second-years.
The news of Slaughters’ move will no doubt please the 24 per cent of readers of The Lawyer’s sister publication Lawyer2B who believe NQs are underpaid. One recruitment firm will beg to differ after calling for NQ salaries to be capped at £50k, which is unsurprising since there are just so blo*dy many of them.
Young lawyers: make the most of the cash while you can. The paralegals are after your jobs.
Also on TheLawyer.com:
Hill Dickinson is about to start a firm-wide business review that could lead to job cuts and, it appears, office closures in the north west
In-house salaries are on the rise
SJ Berwin is quits again with its partners after February’s delayed profit distributions were paid out a month and half late
And details of Kirkland & Ellis’s planned Beijing launch emerge