Stewarts Law has boosted pay and incentives for junior lawyers, paralegals and business services staff in a bid to maintain and enhance competitive advantages.
The firm has boosted salaries for all staff, though it declined to confirm exact figures. A spokesperson said the ‘individual pay awards will vary according to a number of factors’.
New incentives for all staff include an extra day off on birthdays and access to private GPs and discounted gym membership. The changes came into effect earlier this month on 1 May.
Managing partner John Cahill said: ‘Every year we’ve taken soundings as to what is competitive market pay. It’s been a gradual process and looking at what benefits would be appropriate. Nothing we’ve done is different – it’s not a revamp, I do it every year. We will review all staff who sit in different bands.’
The litigation specialist is not the only firm making moves to makes sure junior members are happy. Linklaters made a similar move in March and added extra holiday, new bonuses and one day a week working from home for all qualified lawyers following a consultation process. Newly qualified pay was also increased to £91,000 including bonuses and increased annual leave entitlements from 25 to 27 days, while all staff can take an extra day off in the month of their birthday.
Similarly, last year, Mishcon de Reya managing partner Kevin Gold rolled out an initiative where lawyers were able to take unlimited holidays.
Stewarts Law, which was a finalist for Legal Business Awards Law Firm of the Year has had a strong run of late. The firm recorded double digit growth last year of 14% to £53m and has in recent months hired James Price from Farrer & Co to launch a trusts litigation practice in the City.