Slaughter and May has cut back the bonuses it pays to its trainees, with associate salaries held static in the firm's latest pay review.

The magic circle firm, which last year paid its trainees a bonus of 8% of salary, has opted to cut this to 4% for first-year trainees and 6% for second-years. Associates will continue to receive a bonus of 8% of their salary – the same level that was paid out last year. 

Pay levels for the firm's associates will stay at the same rates as last spring, with all junior lawyers set to progress through the bands as normal.

Slaughters' pay structure is unusual in that associates see salaries increase at the six-month point of each year on the lockstep. The firm reviews its pay levels twice a year in May and November, with bonuses looked at as part of the October review.

The half-yearly increases will take pay for associates with one year post-qualification experience (PQE) to £69,000, while those at two years' PQE will receive £76,000, with 3PQE pay standing at £86,000.

Newly-qualified (NQ) lawyers will receive £61,500, while trainee pay remains static at £38,000 and £43,000 for first and second-years respectively.

Support staff will also receive a bonus of 3% of their salary – the same level as was paid out 2010. All of the bonuses will be paid in December.

Slaughters executive partner Graham White said: "Unlike other firms, we carry out biannual salary increases, because we believe it's important to reward hard work throughout the year. We have decided to slightly reduce the bonus percentage given to trainees, and feel comfortable our trainee package remains competitive."

Slaughters increased its firmwide bonus to 8% for fee earners in December last year following a cut to 5% in 2009 due to the downturn.

Related: Slaughters raises annual fee earner bonus to 8% after pay review