NQs obtain pay rise which falls £5k in need of pre-COVID six-figure sum
Allen & Overy has restarted lawyer wage evaluations and elevated ranges of pay.
The magic circle agency introduced a firm-wide pay freeze and put annual wage evaluations for legal professionals and assist workers on maintain within the first quarter of the monetary yr when coronavirus hit.
“Following a latest evaluate, now we have taken the choice to extend lawyer salaries to align to the market as applicable to their band or related discretionary improve for his or her function,” a spokesperson from the agency stated. The will increase might be mirrored of their December pay, backdated to November.
This consists of its newly certified (NQ) solicitors, which, as Legal Cheek reported in June, acquired a 10% lower in pay from a minimal of £100,000, comprised of wage and sign-on bonus, to £90,000, in response to the coronavirus pandemic. Nevertheless, the pay rise falls £5,000 in need of the six-figure pre-COVID sum. The spokesperson confirmed to Authorized Cheek that their whole compensation package deal now stands at £95,000.
The agency’s second yr trainee solicitors, who had been held on yr one pay, have now had their salaries reinstated, the spokesperson added.
The salaries of A&O enterprise providers and assist workers, nevertheless, stay frozen.
A spate of Metropolis legislation companies lower solicitor salaries to curb the monetary uncertainty caused by the coronavirus pandemic. Some, together with most just lately, Hogan Lovells, have since restored NQ lawyer pay to their pre-COVID ranges.