Newly-qualified solicitors at Slaughter and May are officially joining the £150,000 pay club after the firm brought its pay review forward.
The firm had previously stated it would hold its pay rate at £125,000 until at least November this year.
The new salary took effect on 1 September, putting the firm in line with Freshfields Bruckhaus Deringer, Linklaters, Clifford Chance and A&O Shearman all of which raised to £150,000 last May.
Slaughters is known to review its salary scales bi-annually in April and November. In its last spring review, it decided to keep pay for its most junior lawyers at £125,000.
A statement from Slaughters read: “Following recent market moves, we have brought forward our November pay review. We have now completed a review of salaries for all associates and our NQ salary will increase to £150,000, effective from 1 September.
“Our approach to pay reflects the firm’s values, allows us to attract and retain the best talent, and ensures that we maintain our culture of excellence and collegiality. “
The new rate puts the firm behind US firms including Goodwin which raised its NQ rate to £175,000 over the summer, as well as Quinn Emanuel Urquhart & Sullivan and Gibson Dunn both of which offer £180,000.
