Slaughter and May is freezing pay this year and Clifford Chance is only matching inflation.

RollOnFriday understands that the freeze was announced internally at Slaughter and May on 1 May, and a spokesman confirmed that "we are not proposing a further change at this time". He said the decision to skip May pay reviews was made because associate salary scales "were increased on 1 January 2017 following a major review of employee reward and recognition".

That may not satisfy the hearts and wallets of associates at Bunhill Row. The Christmas raises were an unexpected fillip given in response to dissatisfaction amongst staff over what were perceived to be inadequate increases in May 2016. Lawyers who regarded the January rises as a corrective for May 2016 may not be delighted that the firm has chosen to treat them as 2017's pay review. A spokesman for Slaughter and May said "It is our intention, however, to keep our scales under review".

That's right, it's a frozen magic circle. Alright it's not magic.

Slaughters is not the only Magic Circle firm applying the brakes this year. Insiders have told RollOnFriday that Clifford Chance has handed out only an inflation-matching 2.7% rise. Sources also revealed that staff were "told to keep quiet" about the small hikes. Several people, however, disputed a report that lawyers were threatened with formal disciplinary processes if they leaked to the press. In a marked contrast to Clifford Chance's willingness last year to confirm healthy raises, this time around a spokesman declined to comment.