Olswang is swinging away from the traditional lockstep model towards a merit based system. Details are currently scant but it involves three salary bands (reviewable annually) to be determined by performance and ability.

A number of firms have already chosen to go down similar routes in the last year or so. We are somewhat sceptical of the motives. Particualrly when these changes are touted as a benefit for associates – a point discussed previously – a reward system that is more opaque will obviously suit those doing the rewarding more than the rewarded. However, in these changing times it is understandable that firms might wish to make adjustments. Cynics will notice if large PEP gains coincide with hoards of disappointed associates though. We shall wait and see.

No such concerns for Hogan Lovells associates, the firm will restart lockstep progression and increase associate salary bands this year. Pay increases will see NQs receive £60,000, a small increase on last year’s £59,000 but still a little down on Lovells’ NQ glory days of £65, 000 starting salaries. First seat trainees will now be paid £37,000.