Slaughter and May is abandoning its longstanding biannual pay review system, with the firm's associates now set to receive one pay rise a year instead of two.

The move, which comes as Allen & Overy (A&O) this week kicked off the 2012 associate salary round with marginal increases for junior lawyers, brings Slaughters in line with its magic circle peers.

The firm will discontinue its additional autumn salary review in favour of one annual review in May from the start of the new financial year, with associates set to be informed of their pay for 2012-13 in the coming weeks. The magic circle firm is currently the only major UK law firm to review pay on a biannual basis, with associate salary levels set out both at the start and halfway through each financial year.

Slaughters executive partner Graham White said: "We have decided to move to an annual review in line with general market practice. It is not something we are doing in response to economic conditions."

The change will not affect associate performance feedback, which is formally carried out in conjunction with the spring salary review. More informal performance feedback will still be available on request at the half-year point.

A&O this week became the first of the magic circle to confirm its 2012-13 salary bands, with pay for newly-qualified (NQ) lawyers up £500 to £61,500, while trainee rates are being held stable, starting at £38,000.

First-year post-qualification experience (PQE) pay has been increased from £68,000 to £68,500, with second-year PQE pay also up £500 to £74,500. Three-year PQE associates will see the biggest rise, up £1,000 from £85,000 to £86,000, with salary rates for four years' PQE and above unchanged.