Slaughter and May increases bonuses and marginally raises salaries

Slaughter and May has announced an imminent increase in its firmwide bonus, as well as a marginal increase in the baseline salary for associates. All fee earners, including trainees, will see an end of year bonus equating to about 8 per cent of salary, a significant step up from last year’s bonus, which was slashed to 5 per cent in response to tough economic conditions. Support staff will receive a bonus of 3 per cent, up from 2.5 per cent in 2009. Salaries for junior lawyers will increase by less than 1 per cent, those with three years' experience will see a 3 per cent raise. With the marginal pay increase newly qualified lawyers will earn £61,500, while lawyers with three years’ experience will take home £84,500. Trainee rates will remain at £38,000 for first-years and £43,000 for second-years.

Slaughter and May increases bonuses and marginally raises salaries legalweek.com Thu, Nov 4, 2010