Magic circle law firm reducing working week (and pay) in new flexibility scheme
A magic circle firm is incorporating a scheme to give lawyers the option to work shorter hours for less money.
Slaughter and May confirmed confirmed its job design scheme which enables eligible associates to reduce to either a 0.9 or 0.8 full-time equivalent, with pay and holiday entitlement pro-rated accordingly.
The magic circle firm was trailing the system since early 2021 and has just confirmed to introduce its ‘switch on/off’ model as a permanent offering for its associates. Those that take up the scheme, will remain on it for a 12 month period.
Slaughter and May chief people officer, Jonathan Clarke said: “Following a successful trial period, we are delighted to introduce the job design scheme as a permanent offering for our associates.”
He added: “The new working arrangement provides our lawyers with a different approach, which enables them to develop their careers and deliver value for our clients, whilst simultaneously having the time to pursue other interests and maintain a greater work-life balance.”
Slaughter and May was the last magic circle law firm to have upped its newly qualified (NQ) lawyers salary to £125,000 a year, as the firm joined the rest in November.
The news comes after a City law firm last week asked its lawyers to drop down to working four days a week, but this move was reported to be in order for the firm to meet its budget requirements.
According to RollOnFriday, property associates at Fladgate were given the option to work a four day week for four days’ pay as the firm is reported to be behind in its budget. The associates have a week to make a decision but were also informed there will be a proportionate decrease in pay in order to meet budget requirements.
Fladgate was contracted for comment.