But this Slaughters associate had his salary docked 10% for wearing brown shoes in town.
Slaughter and May's pay freeze is being lifted, to a chorus of "huzzah" from lawyers at the elite firm.
The announcement will be welcomed by the Slaughters associates who were not best pleased when the firm told them in December that last year's pay freeze was continuing; despite other City firms thawing their salary restrictions (for lawyers, at least). The grumbles seemed to have contributed to Slaughter and May being marked at the bottom of the Magic Circle for satisfaction with pay, in the RollOnFriday Firm of the Year 2021.
But Slaughters has now announced that it will increase "most PQE salary scales", and eligible associates will move through the PQE salary scales. NQ salary will also go back up. Last year, the firm reduced NQ pay to £87,000, but it will rise to £90,500 (albeit, this is just shy of the pre-Covid level of £92k). These changes will be applied retrospectively from 1st January 2021.
The Magic Circle firm will increase trainee salary, as well, from March. First year trainees will receive £47,000 (up from £45,000) and second years will be paid £52,500 (a rise from £51,000).
"We thank everyone for their continued hard work and loyalty during this period," said a Slaughter and May spokesman.
Things are also looking up at Eversheds Sutherland. The firm has announced that it will repay reductions made under the 'Flex Scheme' that operated from June to November last year, in response to the pandemic. The scheme (similar to flexible initiatives by other firms) allowed staff, who were less busy than usual, to voluntarily take a reduction in hours to 80% for a commensurate drop in pay.
The firm has now stated that those individuals who went "on flex" and worked reduced hours will receive a repayment in March equal to their reductions in pay.
"Despite the challenges of the last year, the firm has performed strongly against budget and it is therefore right that we make these payments in appreciation for the support shown for the Scheme,” said Chief Executive Lee Ranson.
In December last year, Eversheds Sutherland also brought back all those staff who were furloughed, and repaid in full the funds it received from the UK government under the Job Retention Scheme.