Magic circle firm introduces shorter hours for reduced pay

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Slaughter and May has announced the introduction of a new scheme, which allows associates to reduce their working hours for less pay, enabling them the “time to pursue other interests and maintain a greater work/life balance”.

The scheme, which has been in the works since 2021, means associates at the firm will be able to work either 80% or 90% of the normal full-time equivalent. In turn, their pay and holiday will decrease in proportion with the hours reduced.

Slaughter and May’s Chief People Officer Jonathan Clarke explains that: “Following a successful trial period, we are delighted to introduce the job design scheme as a permanent offering for our associates.” Employees will be able to ‘switch’ on and off this new model, with those taking  up the scheme remaining on it for 12 months.

Clarke 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, while simultaneously having the time to pursue other interests and maintain a greater work/life balance.”

The announcement follows Slaughter and May’s recent salary increases. The firm became the last magic circle firm to increase newly qualified lawyer salaries to £125,000 a year.