International law firm Hogan Lovells will return its newly qualified associates to full pay following the cuts that were put in place due to the Covid-19 (Coronavirus) pandemic.
InApril, the organisationintroduced pay cuts for newly qualified lawyers in London and Birmingham, with their pay being reduced to £85,000 and £46,000 respectively. Due to Hogan Lovells' strong financial performance during the pandemic, the organisation has restored employees to full pay (£90,000 and £48,000).
Full pay will also resume for second-year trainees, who will see their salaries rise from £46,000 to £51,000 in London and £29,000 to £32,000 in Birmingham. Both newly qualified lawyers and second-year trainees will see their pay backdated to 1 May 2020.
Additionally, lawyers’ salary and bonus reviews resumed in October with business services to follow suit in November.
A spokesperson at Hogan Lovells said: “Earlier this year, we took measures to manage our organisation in response to the challenges and uncertainties of the Coronavirus crisis. This included postponing UK salary and discretionary bonus reviews for lawyers until later in the year, and reviewing UK trainee and [newly qualified] salaries.
“We have now carried out the delayed salary and discretionary bonus review for our lawyers and told them the outcome of the review earlier this month."
