US law firm Cleary hikes pay for UK associates
Cleary Gottlieb Steen & Hamilton has increased trainee and junior associate pay in the UK, further increasing the gap between what local and US firms are willing to pay lawyers.
London trainees saw salaries rise by £2,000, while associate salaries increased by around £4,000. Following the pay hikes, newly qualified lawyers will take home £96,000, while a 2PQE will rake in six figures.
Magic Circle firms have again elected not to match their US counterparts when it comes to pay, with up to a £36,000 gap between what NQ’s are paid at US firms and what they are paid at UL firms. But according to reports lawyers at US firms won’t have quite as much time to enjoy their spoils, since work/life balance is regarded to be tipped far more in favour of work at those firms.