Slaughter and May has failed to match Allen & Overy with its new pay rises, leaving staff "disillusioned".
The results of the firm's 2016 pay review were announced internally on Friday. Apparently across most bands the increases are "at best in line with inflation", around £2,000. That would put solicitors on less than peers at Freshfields and Linklaters (which is so far the only other MC firm to raise pay this year) and nowhere near the earnings of lawyers at A&O, which gave staff unexpectedly massive rises last summer.
Sources report that Slaughters associates are, as a result, "pretty disillusioned". One said, "we don't expect to keep up with US firms, but when a lawyer at the same PQE at another MC firm is earning £10k more than you when your firm has just made up 10 new partners, it starts to grate".
|The day of his promotion he realised associates were actually ridiculously overpaid.
More details to follow in Friday's news.