Slaughter and May’s newly qualified (NQ) associates are set to take home at least £100,000 each year as the Magic Circle firm boosts rates amid an associate pay war in the City.

The Magic Circle firm has boosted NQ remuneration from its previous level of £83,000 to £92,000, which with a bonus will bring it to £100,000. It matches the rate recently set by Freshfields Bruckhaus Deringer and Clifford Chance