CC fires payrise starting gun with 15% NQ hike
Clifford Chance (CC) is to increase its associate and trainee salaries by up to 15%, with newly-qualified lawyers taking home an extra £7,500 from 1 May. The magic circle firm announced today (12 April) that newly-qualified solicitors' salaries will rise from £55,000 to £63,500. One-year post-qualification experience (PQE) associates will see their salary go up from £60,000 to £66,000; two-year PQE lawyers go from £70,000 to £79,000; and three-year PQE salaries will climb from £81,000 to £89,000.
April 12, 2007 at 01:53 PM
2 minute read
Clifford Chance (CC) is to increase its associate and trainee salaries by up to 15%, with newly-qualified lawyers taking home an extra £7,500 from 1 May.
The magic circle firm announced today (12 April) that newly-qualified solicitors' salaries will rise from £55,000 to £63,500. One-year post-qualification experience (PQE) associates will see their salary go up from £60,000 to £66,000; two-year PQE lawyers go from £70,000 to £79,000; and three-year PQE salaries will climb from £81,000 to £89,000.
The firm's bonus system remains unchanged, with associates of six months to a year experience receiving up to 20% of salary; associates of one-and-a-half to three-and-a-half years qualified on 30%; and associates of four years and over on 40%.
Despite the rises, associates at arch City rival Allen & Overy (A&O) still receive higher salaries than at CC, with a one-year PQE associate at A&O on £69,000.
CC human resources head Mark Spivey told Legal Week: "We always look at the market at this time of year. Over the last six to nine months we have been looking at the overall salary and bonus we offer and also taken into account the career development work we've done."
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