Clifford Chance unfreezes salaries
Clifford Chance has taken the step to unfreeze associate salaries, following similar raises in other magic circle firms. After a freeze in 2009-2010 which kept salaries at exactly the same rate as the previous year, the firm has increased the pay rate by an average of 3 per cent for associates and trainees from 1 May.
Newly qualified solicitors will now earn £61,500, up from £59,000 last year. Associates with one year’s post qualification experience will earn £68,000, up from £66,600 last year. Those with two years post qualification experience £68,700, up from £72,250, while the three-year rate will be £84,500, up from £82,200. The firm also announced that there would be small pay increases for trainees, with first years earning £38,000 and second years £43,000.