![[UK] Allen and Overy make 10% cut to NQ solicitor pay](http://gpa.net/cdn/shop/articles/bigstock-The-Hand-Of-A-Businessman-Remo-267509374_d94fcbbd-5135-45bb-ab7b-8efa94dd2186_1200x.jpg?v=1593159859)
Allen and Overy (A&O) has confirmed that, in response to the COVID-19 pandemic, it has made a 10 per cent cut to the salaries of its newly-qualified (NQ) solicitors. On June 22 the magic circle firm announced that the salaries of its September 2020 qualifiers will drop from a minimum of £100,000 - made up of salary and sign-on bonus - to £90,000. A 10 per cent decrease on its 2019 NQ package.
In 2019, following the summer City pay war, A&O reportedly put up its NQ salary by 20 per cent to get it from £83,000 to the six-figure-sum. Slaughter and May - another magic circle firm - confirmed last month that its NQs will now earn £87,000, a reduction from its previous base salary of £92,000. Linklaters is currently believed to be considering its NQ pay position. Legal Cheek reports further details of A&O’s statement and reacts to the narrative shift from raises to cuts.Allen and Overy (A&O) has confirmed that, in response to the COVID-19 pandemic, it has made a 10 per cent cut to the salaries of its newly-qualified (NQ) solicitors. On June 22 the magic circle firm announced that the salaries of its September 2020 qualifiers will drop from a minimum of £100,000 - made up of salary and sign-on bonus - to £90,000. A 10 per cent decrease on its 2019 NQ package.
In 2019, following the summer City pay war, A&O reportedly put up its NQ salary by 20 per cent to get it from £83,000 to the six-figure-sum. Slaughter and May - another magic circle firm - confirmed last month that its NQs will now earn £87,000, a reduction from its previous base salary of £92,000. Linklaters is currently believed to be considering its NQ pay position. Legal Cheek reports further details of A&O’s statement and reacts to the narrative shift from raises to cuts.