London firm to up salaries for lower-paid
London-based law firm Norton Rose Fulbright has unveiled plans to increase salaries by as much as 10% for lower-paid workers in response to the cost-of-living crisis, according to the Law Society Gazette of England and Wales.
The firm said that it wanted to provide “sustained, longer-term support” to its staff.
The Gazette says that the move is in contrast to other firms that have made once-off payments.
Salaries will increase by 5-10% for all full-time employees who are currently paid less than Stg £48,000 a year, effective from next month.
Bonuses
This follows a once-off 3% bonus awarded in January to those below partner level.
At the start of the year, Norton Rose Fulbright also increased its existing discretionary bonus pool by a third to further reward high-performing employees.
As of next month, the firm has also announced it will increase its UK newly-qualified salary to Stg £105,000.
The Gazette says that this increase is in addition to the firm’s usual annual salary review process and half-year bonus scheme.