When Slaughter and May became the first major firm to announce it was cutting salaries for its 2020 newly qualified (NQ) lawyers, it set the mood for a climb-down from the traditional annual aggressive pay war of 2019.

Firms have broadly opted for three different strategies in the face of COVID-19 disruption: cutting junior salaries, holding them at 2019 rates, or deferring their decision. Here is a firm-by-firm guide to NQ salary decisions so far:

The Cutters

Slaughter and May became the first major firm to reduce, cutting its NQ salaries by £5,000 to £87,000 at the end of May. 

Fellow Magic Circle firms Allen & Overy and Clifford Chance followed suit this month, the former cutting total compensation, including a bonus, from £100,000 to £94,500 while the latter cut its salary base rate by 10% to £90,000. 

Other U.K. firms have followed suit including Hogan Lovells, which cut NQ pay by £5,000 to £85,000 in London, and by £2,000 to £46,000 in Birmingham. 

Osborne Clarke also announced at the end of June that its incoming NQs would be subject to the firmwide 7% salary cut, bringing their salary down to just over £66,000 in London.

The Holders

While some firms have moved to cut their NQ salaries, others have remained resolute. Freshfields Bruckhaus Deringer became the first major player to confirm it was keeping its NQ salary rate at 2019 levels of £100,000.

Herbert Smith Freehills also confirmed NQ salaries would be held at £105,000, along with firms CMS and Pinsent Masons, which are keeping theirs at £73,000 and £72,500 respectively.

Meanwhile, a host of U.S. firms also said that NQ pay for their London lawyers would remain at 2019. Those so far to confirm this are Latham & Watkins at £143,000, Cleary Gottlieb Steen & Hamilton at £133,000 and Morgan Lewis & Bockius at £115,000.

The Deferrers

The last group of firms have decided to defer their decision on NQ salary for the time being. These include top firms White & Case and the last of the Magic Circle to make its decision, Linklaters.

Norton Rose Fulbright is yet to announce whether it will change from its present rate of £87,000. Finally, U.S. firm Paul Hastings has confirmed it will not be cutting its NQ salary but is still deciding whether or not to increase it.

This article has been updated to show that Norton Rose has not yet made a decision regarding its NQ salary.

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