A top-40 firm has confirmed it will put off any pay review until the uncertainty following the Brexit vote has cleared.
National firm Bond Dickinson today confirmed it had informed staff of the decision.
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Managing partner Jonathan Blair told the Gazette the firm had opted to wait before committing to any pay review and adopt a similar approach to that taken by other firms.
‘We have been reviewing activity levels post-Brexit and while it is too early to tell what the longer-term impact will be, we have concluded that we should defer our salary review process until later in the year when we have a clearer picture of market trends and client activity,’ said Blair.
In July, Blair had said clients had already sought advice and guidance from the firm within weeks of the referendum vote to leave the European Union.
He explained Brexit was a ‘critical part’ of the business planning, and its alliance with firms in the US and in Germany is already considering how best to respond to the challenges of leaving the EU.
Bond Dickinson is the latest in a number of UK law firms to announce a halt on pay rise discussions since June 23.
It was reported in July that City firm Berwin Leighton Paisner had become the first to freeze pay for UK staff.
Corporate firm Addleshaw Goddard confirmed last month it had deferred a pay review and equity partner drawings in the wake of the vote.
The firm said: ‘Like many other businesses in the UK we have seen Brexit have an impact on activity levels in the short period since the referendum.
Firm defers pay review until Brexit picture is clearer
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