Clifford Chance has increased the salaries of its trainee and associate solicitors.
The law firm’s Annual review 2012 showed that newly-qualified (NQ) base remuneration was raised to £63,500, up from £61,500. NQ employees can now reach an annual £76,200 with the maximum bonus.
Associates with one year’s post-qualification experience (PQE) have seen their pay increase from £69,000 to £69,500, and they can receive a maximum reward of £90,350 per year with the maximum bonus.
The two-year PQE rate has increased from £76,300 to £78,200, and solicitors can earn £101,660 by meeting bonus targets.
Three-year PQEs also saw a pay increase, from £87,000 to £87,800, to a maximum of £114,140 with the bonus threshold.
Bonus rates within the organisation are unchanged. Junior associates can receive 20% to 30% of base salary, while senior associates can be awarded 40% of base salary.
Trainee salaries increased from £38,000 to £39,000 for first years and from £43,000 to £44,000 for second years.
In a statement to The Lawyer, sister publication of Employee Benefits, David Bickerton, London managing partner at the law firm, said: “These salary increases and bonus awards reflect our recognition of the contribution made by our lawyers who consistently deliver the highest quality advice to meet clients’ exacting demands.”