The news comes hot on the heels of the Magic Circle pay war, with Slaughters boosting its NQ salary to £100k including bonuses in June this year. The move came after Freshfields Bruckhaus Deringer and Clifford Chance (CC) both hiked their newly-qualified (NQ) pay to £100,000 in a bid to head off the ever-increasing threat from US rivals.
Our What Will You Earn table compares all law firm trainee and NQ salaries.
Similarly, Clifford Chance has announced an 87% autumn trainee retention score, as 41 out of 47 qualifying trainees will stay on at the firm.
In a bid to attract top talent, Clifford Chance (CC) also increased its Graduate Diploma in Law (GDL) maintenance grant in May of this year. CC was the first Magic Circle firm to award £10,000 in financial support to its future trainees studying the GDL, a 25% uplift on the previous grant of £8,000. The new sum is in line with CC’s £10,000 Legal Practice Couse (LPC) maintenance grant for students.
Slaughters has since followed suit, confirming that its maintenance grant will be in line with its Magic Circle counterparts for students beginning the GDL in September 2019.
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