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Clifford Chance joins City pay war with improved £150k NQ lawyer salary

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By Legal Cheek on

114

Follows Freshfields and Linklaters


Clifford Chance has become the latest Magic Circle law firm to increase the salaries of its most junior lawyers to £150,000.

This move, equivalent to an additional £25,000 or 20%, follows hot on the heels of identical increases by Freshfields and Linklaters.

Clifford Chance confirmed the increase to newly qualified pay is effective of 1 May.

The 2024 Legal Cheek Firms Most List

The firm, which recruits around 110 trainees each year, the highest intake of any City outfit, has also boosted the salaries of its rookie lawyers.

From 1 September, trainee pay moves from £50,000 to £56,000 in year one and £55,000 to £61,000 in year two. These also match the rises dished out by Freshfields and Linklaters.

The Legal Cheek Firms Most List 2024 shows that A&O Shearman and Slaughter and May are the only remaining two members of the Magic Circle not to increase the salaries of its junior lawyers. They both currently offer an NQ salary of £125,000.

114 Comments

CC TC

Yes CC! Enjoy your prestige Slaughters

Reply Report comment
(79)(1)

Chris

I mean, yes, I actually will? What’s an extra couple of hundred per month in the grand scheme of things? Meanwhile Slaughter are involved in pretty much every UK listed takeover – genuinely can’t remember the last time I saw CC pop up?

Reply Report comment
(3)(97)

Your new financial advisor

Extra couple of hundred? Its just over £1k a month after tax…

Reply Report comment
(60)(0)

Anon

They shouldn’t be advising on any takeovers with that appalling maths.

Reply Report comment
(82)(2)

Leopard

The incredibly active and exciting UK public M&A market — if that’s all you have to cling to at Slaughter’s these days that really is depressing.

Reply Report comment
(12)(0)

Loool

CC baby!!! AO Sherman and slaughters what’s going on? Loool

Reply Report comment
(56)(1)

Ahmad Haroon

Cc whats ur issue you say you’re diverse yet you lack diversity.. spoke to many lawyers and all I see them on Facebook is them being emotional….. ?? The workload and being under pressure with no help says a lot!

Reply Report comment
(0)(28)

Ex Clifford chance trainee

Clifford chance is overrated

Reply Report comment
(20)(6)

Law.Student24

Easy for you to say mate, considering you already did your TC there!

Reply Report comment
(3)(0)

Interesting times for firms like Hogan Lovells, HSF, Mayer Brown, Ashurst,etc

I wonder what they’ll do. 120 to 150 is actually a fair gulf. Will these tier-below MC firms move to 140?

Reply Report comment
(52)(1)

anon

Maybe their new benchmark will be £125k. I could see that.

Reply Report comment
(7)(5)

Anon

Thinking about it.. Clifford chance is not an ideal girm you want to work with…. I’m just saying there’s a lot of red flags following up the competitiveness theyre having with AO shearman and linklaters?????????? Whattttt

Reply Report comment
(2)(14)

AO Sherman take this L

Imagine deciding to go Shearman and rejecting CC cos Shearman were paying higher at the time (being a US firm) and now CC pay higher lool

Reply Report comment
(63)(6)

C

They’ll work for it that’s for sure particularly in assets

Reply Report comment
(14)(3)

D

why assets

Reply Report comment
(1)(4)

X

Take that, take that! No diddy

Reply Report comment
(12)(0)

Anon

Meanwhile Pinsent Masons have increased nq salary to 97k in London and 63k in regions. Very poor considering another very strong year!

Reply Report comment
(16)(8)

Regional observer

I don’t think that’s a bad raise to be honest, that’s up from 90k London and 60k regions right?

Reply Report comment
(2)(2)

Clifford chance lawyers use tinder 😂 don't ask

I’m looking for a Clifford chance lawyer particularly in finance trust fund 6’5 blue eyes!!! I repeat blue eyes!!!!!!! and a trust fund 😎

Reply Report comment
(5)(26)

Anon

I heard about this on Instagram its trending well we know where these lawyers money goes to…

Reply Report comment
(0)(0)

Anonymous

Sources? 🍵

Reply Report comment
(0)(0)

lawyee484747474

I wonder if bakers will move up?

Reply Report comment
(4)(7)

Anonymous

Baker to increase soon

Reply Report comment
(2)(6)

hopeful trainee

do you know what to? do you have any insight

Reply Report comment
(0)(4)

Linklaters

Clifford chance is insecure theyre disliking everyone’s comments 🤣🤣🤣

Reply Report comment
(5)(6)

Bakers Associate

Will probably increase £1k and tell us to be super grateful.

Reply Report comment
(13)(0)

Anonymous

lol, wouldn’t be surprised

Reply Report comment
(2)(0)

Hmm

which city firm you think will rise next that’s not MC or US?

Reply Report comment
(3)(2)

Anon

HSF, Baker, NRF, Macs, Simmons, Hogan Lovell and DLA should…

Reply Report comment
(29)(5)

Zzz

DLA won’t loool…they just raised their salary to 100k. More likely Shed, Watson and maybe Bakers

Reply Report comment
(16)(0)

Tell us tell us tell us

Is it true they didn’t retain a lot of their trainees?

Reply Report comment
(13)(0)

Unretained Regional Trainee

Over a month ago they held an NQ workshop with all trainees across UK offices and made them announce to every other trainee on the call where they wanted to qualify.

This week they sent an email to us (all unretained trainees) so we can see who else wasn’t kept on.

You couldn’t make this up and I am more curious as to why there hasn’t been an article on this.

True Story

No it isn’t true and the 15.41pm commenter is spreading lies. None of those things mentioned happened at all.

Only a handful have not been retained but it is not as bad as some of the comments have made out. Several trainees are unretained out of choice as they wish to leave the firm.

Randy

Bet that guy who quit his TC to sell guides during a pay war is seething hahaha

Reply Report comment
(43)(0)

Not in this NQ market

I can’t see these firms increasing NQ salary in this market.

The NQ market is dead at the moment. There are not that many NQ roles going and therefore trainees are either staying at their current firms or downgrading to a smaller firm.

MC firms are increasing the salary because their trainees can leave and go to other MC or US firms but that is not a possibility in the current market for most trainees at the firms you have listed. Those trainees are going to look to be retained or they could be without a job entirely or go to a much smaller firm and take circa 40k pay cut.

Reply Report comment
(18)(17)

Really?

A HSF trainee couldn’t go to an MC / US firm post their TC?

Reply Report comment
(1)(6)

Dave

It’s not impossible but in this NQ market it is quite difficult.

If you are a final seat trainee who is going through the NQ process you would know that there are only a limited number of jobs on offer.

No Comprehension Lad

Comprehension is really lacking these days.

The comment was obviously not saying that trainees at those sorts of firms can never move to a US or MC firm – they are saying it is difficult to do in the current NQ market which I agree which.

Not in this NQ market

You guys disliked the comment and even commented in opposition but look at Pinsents hardly increasing their NQ salary.

I told you this would happen.

The NQ market is abysmal and firms are aware of this which is why they aren’t increasing the salary by much.

In a buoyant NQ market you could go from Pinsents to a MC/US firm as trainees were doing a couple years ago but that isn’t the case now.

Reply Report comment
(2)(1)

Happy CRS

Charles Russell raising to 97.5k for all lawyers except corporate and private client who are going up to 110k

Reply Report comment
(18)(1)

Anon

Source

Reply Report comment
(1)(0)

Anon

I heard about this on Instagram its trending well we know where these lawyers money goes to…

Reply Report comment
(0)(0)

Anon

Source?

Reply Report comment
(0)(0)

Anon

Very decent whack for CRS

Reply Report comment
(4)(0)

Zayan ahmed

crs may level up after seeing this post

Reply Report comment
(2)(0)

CRS Associate

It’s going to be announced on Friday. Apparently management are furious that it got leaked and are forced to announce earlier than expected . Some confusion about when the raises will take effect though.

Reply Report comment
(6)(0)

Anon

US firms will rise to £200 NQ

Reply Report comment
(7)(27)

Silly Fresher

Someone doesn’t understand how US firms set pay…

Reply Report comment
(56)(1)

Anon

The top US firms look to pay 30-40% above MC NQ rates. £200K for NQ is definitely imminent

Reply Report comment
(3)(58)

Not an idiot

No. They pay the rate set by the US head office which for most top US firms is the Cravath rate. They may adjust their FX rate where, for some firms (e.g. latham I think?) they have a trailing FX rate with cap and collar meaning the UK associates earn less than they would if the US salary was converted to GBP each month.

Reply Report comment
(45)(0)

Roland

No, they tend to. Not look to.

Reply Report comment
(15)(1)

Kirkland NQ

Aww, bless.

Reply Report comment
(23)(1)

Paul, Weiss senior

Peanuts.

Reply Report comment
(8)(3)

Rupert; a US Firm Legend

Chicken feed, dear person.

Reply Report comment
(0)(0)

Anonymous

Price Prior to the MOOOOOOOOOON

Reply Report comment
(35)(2)

Linklaters

Lol 🤣 they want to copy eberu move we make

Reply Report comment
(0)(1)

Linklaters

Clifford chance take this L your law firm is boring

Reply Report comment
(1)(7)

Jackson

Clifford chance take this chance to improve your firm rather than increasing the salary. Dont follow the sheep.

Reply Report comment
(0)(2)

Any confirmations ?

Any confirmations on Shed or Hogan Lovells?

Reply Report comment
(9)(3)

Bhavya Sharma

Does anyone know if Watson Farley & Williams will be making any raises?

Reply Report comment
(12)(2)

Aditya

Never.

Reply Report comment
(6)(1)

Beleaguered CC senior

Great at the junior end of the spectrum. Pretty appalling as a senior given bunching.

Reply Report comment
(12)(1)

Cc senior making us money

Work a bit harder and get the 80%+ salary bonus that is available?

Reply Report comment
(19)(1)

Curious George

Wait so no uplift for all salary bands? What is the bonus structure?

Reply Report comment
(1)(0)

Trainee

Addleshaw, plz, I’m still on my knees

Reply Report comment
(11)(1)

Anon

I’m on my knees for the US firms like gibbs dun to go 200k

Reply Report comment
(3)(12)

Anonymous

Waiting for the US law firms to grill CC and increase their salaries to 250k. Cc is going down hill!!!!!!!

Reply Report comment
(1)(17)

AO shearman

Cant compete with us no one wants to work in your firm 🤣 110 trainees? The whole firm is falling apart!

Reply Report comment
(0)(19)

Anon

Waiting for the US firms to sky rocket and outdo the magic firms!

Reply Report comment
(2)(8)

White and case

Clifford chance take this L your law firm is boring

Reply Report comment
(3)(7)

Hmm

Not sure they’re the one with the L. White & Case don’t seem to be raising…

Reply Report comment
(9)(0)

Latham and watkins

The game begins……

Reply Report comment
(4)(0)

Willam

Sure its a great start as a trainee but when qualifying should have been at least on 170k maximum. Clifford chance is giving the least bare minimum

Reply Report comment
(0)(5)

Freshfielders

If you want to cry every day because you’re not having a balance work life don’t delay and join freshfielders today

Reply Report comment
(9)(2)

Freshfields Lawyer

If you want to post comments on Legal Cheek in broken, nonsensical English, don’t delay and post today!

Reply Report comment
(5)(1)

Anon

Sir I did this comment to show that you don’t accept people with broken English or any international students have a great day 😀 spelling the firm incorrectly just like how you pick your trainees incorrectly

Reply Report comment
(0)(7)

Clifford chance lawyers use tinder 😂 don't ask

I’m looking for a Clifford chance lawyer particularly in finance trust fund 6’5 blue eyes!!! I repeat blue eyes!!!!!!! and a trust fund 😎

Reply Report comment
(2)(14)

Anon

The stories in Clifford chance are ridiculous!

Reply Report comment
(2)(0)

Amelia

The partners at CC reading the comments like 👀

Reply Report comment
(3)(0)

Emma

An increase of £25,000 not bad Clifford chance!

Reply Report comment
(2)(0)

Milbank

CC’s are not juniors they’re on entry level.. learning from the best I see.

Reply Report comment
(1)(0)

Yeahhh boi

Shed to go 110k according to sources

Reply Report comment
(11)(3)

A polite way of calling bullshit

Cap

Reply Report comment
(3)(2)

Ccc

Pinset mason to 97k and what’s the point 5k more lol

Reply Report comment
(4)(2)

AO Shearman

Join our firm since all Cc does is copy every move we make

Reply Report comment
(0)(7)

Gary

A&O Shearman is a myth

Reply Report comment
(1)(1)

Boopy Doopy

Oh did AO Shearman raise to 150k before CC?

Reply Report comment
(0)(0)

lol

Slaughter partners are sweating right now …

Reply Report comment
(15)(3)

Anon

Clifford chance lawyers are not handsome or smart at all… dated a few and let me tell you… its better to date a guy from tesco

Reply Report comment
(6)(7)

Source

Source?

Reply Report comment
(7)(0)

Cc is overrated

Cool they increased their salary by 25k just like every other firm. Now what? Nothing special about a firm that’s copying other firms. Cc is overratted

Reply Report comment
(4)(10)

Sherlock Clifford chance

Random question but would Clifford chance really increase their salaries if their competitors hadn’t increased their salaries first? The answer is no. Red flags red flags red flags

Reply Report comment
(15)(3)

Jack

I’m bored of Clifford chance , rather apply to a city firm much more movement and actions are taken with appropriate measures instead of competing like kiddos when salaries increase in every other firm.

Reply Report comment
(3)(10)

Good luck

Go onn Jack apply to those firms – good luck mate

Reply Report comment
(14)(1)

As an international students perspective

I want to troll Clifford chance but looking at their deals and who they’re headquarters are lol they are the joke already. As an international student $25,000 more would not make me apply to your firm.

Reply Report comment
(2)(24)

Anon

This comment is madness, say what you like about their culture etc. but their deal list is great. Their HQ is in CW, the heart of the financial sector. They’re the same building as DB and Infosys ffs, and next to JPM, Citi, Credit Suisse etc. You sound like an idiot.

Reply Report comment
(13)(1)

CC mid level

There are no fewer than six spelling/grammatical errors in your very short post. With that level of English, you will not make it past graduate recruitment anyway.

Reply Report comment
(6)(0)

Hamza

These comments are so stupid legal cheek delete the trolls 😂

Reply Report comment
(25)(0)

Call me poor

Clifford chance lend me a fiver

Reply Report comment
(1)(0)

Future Trainee CMS

Please CMS, increase will ya

Reply Report comment
(3)(11)

C

But greedy mate CMS have increased like 3 times in recent years …and with their recent redundancies in corporate I doubt it

Reply Report comment
(12)(3)

Hopeful Slaughters 3 PQE

How about higher PQEs? Have they raised each year PQE’s salary by 25k, like Links did – or is there a bit of bunching?

It’d be good to have another thread at some point to share figures for each PQE level for all magic circle firms to take stock once the dust settles!

Reply Report comment
(20)(0)

Bob

We don’t know yet. The scales are increasing, but not 25k at every level.

The big thing is bonuses. The claim is that big billers will make equivalent to US compensation through massive bonuses. The existing scheme can already exceeds 80% of salary for senior associates. The proof will of course be in the pudding.

Reply Report comment
(6)(0)

Inthenose

Stephenson Harwood raise NQ to £110k

Reply Report comment
(12)(5)

lol are you sure

Source – wishful thinking?

The only believe so far is Charles Russell

Reply Report comment
(2)(2)

Bob

Loooool imagine

Reply Report comment
(0)(0)

X

Considering the recruit trainees from when they’re babies (Spark I’m looking at you) that’s some fruitful whack

Reply Report comment
(3)(0)

A

I know that it doesn’t happen but imagine retaining 110 trainees and they are all on £150k each…blimey 😅😭😭🤣

Reply Report comment
(6)(2)

S

Shoosmith are on £90k as an NQ you know, that’s mad 😂 when did this happen

Reply Report comment
(0)(0)

SC

Travers announced they’re “not going to rush to raise salaries” given market conditions.

Reply Report comment
(22)(0)

Lol

They are not gonna rush cos there is partner turmoil at the moment 😭😭

Reply Report comment
(4)(0)

Adgam

Hey,

Can someone tell me which law firms are increasing their salaries recently? Any resources?? Would be helpful thnx.

Reply Report comment
(2)(7)

Jhh

Guys and gals, it’s confirmed pinset has also done an NQ pay rise;

“The move means that NQs in the London office will receive a salary of £97,000 upon qualification, up 5.4 per cent from the current ..” source – the lawyer

So Pinset earn more than Watson Farley, Stephenson Hardwood and Eversheds at NQ?! What are you guys doing lol

Reply Report comment
(2)(0)

?

Do you think it’ll get to a point where a lawyer (excluding partners) could become a millionaire ?

Reply Report comment
(2)(10)

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