News

Clydes and Fieldfisher raise junior lawyer pay

By on
31

£80k and £85k

Clyde & Co and Fieldfisher have increased the salaries of their newly qualified (NQ) solicitors in London to £80,000 and £85,000 respectively.

Clydes’ new rate comes into effect this month and marks a 14% rise on the £70,000 previously awarded to solicitors upon qualification. It also means that the firm’s NQs now earn the same amount of money as their peers over at Dentons and Osborne Clarke.

Trainee pay at Clyde & Co has been held for now pending a review in the summer, a firm spokesperson said. Clyde & Co trainees earn £40,000 in their first year, rising to £42,000 in their second year. The firm offers around 45 training contracts each year.

Clyde & Co has also restructured its bonus schemes in the UK. As part of the changes to its chargeable hours bonus scheme, the firm’s solicitors will see an increase in the payment levels to a maximum of 25% for those achieving the highest chargeable hours threshold. In addition, staff will receive a referral bonus for new work introduced to the firm.

The 2022 Legal Cheek Firms Most List

Rob Hill, chair of Clyde & Co’s UK board, said: “At Clyde & Co we are focused on investing in our people in all respects so that they can enjoy long, fulfilling and varied careers with us while providing clients with the market leading levels of service and legal advice they expect from a firm of our standing. This means providing our lawyers with the best training, an environment in which they can grow and give the best of themselves, and the chance to work with colleagues around the world on varied, interesting, and demanding client instructions.”

He added:

“As part of our focus on our people we regularly review our salary levels and bonus schemes, which play an important role in rewarding our people’s contributions to the firm’s success and recognising outperformance.”

Meanwhile, Fieldfisher confirmed base rates for NQs will move from £77,000 to £85,000 in London and £45,000 to £50,000 in the regions. The rises of 10% and 11% take effect from next month.

A spokesperson for the firm said: “While salaries are important to attract the best talent, pay isn’t everything. We pride ourselves on the strength of our Fieldfisher community, where we promote inclusiveness and diversity of all skills, strengths and perspectives, encourage innovation and endorse collegiality.”

They added:

“We believe in giving our junior lawyers maximum exposure to a variety of experiences and opportunities to work with incredible people, both at our firm and on secondments. This helps them develop into, and be rewarded for being, the best lawyers in their field.”

Clydes and Fieldfisher join a growing list of law firms raising the salaries of their junior lawyers in the war to attract and retain talent. Check out what all the top law firms pay in our 2022 Firms Most List.

Sign up to the Legal Cheek Newsletter

31 Comments

Anon

Hella cheap when the likes of Ince and SH have increased to 90k

(45)(8)

Hmm

Basically, why on earth would you work at Clyde’s now if you can move to SH?

(24)(2)

anon

Surely the other big insurance heavy firms will raise to a similar level if they are remotely serious, more if they are ambitious (think Kennedys, DWF). Ince paying 90k really set the bar.

(16)(2)

Trainee

When will RPC start to match other insurance firms on salary …

(15)(0)

Dwf and Kennedys need to disclose their pay

Kennedys and DWF don’t even disclose their salaries. Apart from those working at the firm, no one even knows what they’re paying NQs to begin with so I doubt they will respond.

(4)(0)

Anon

Oh lord, now Clyde and Co is on 80k. Dentons sort your absolute lives out.

(32)(3)

Associate

Imagine if they paid their regional juniors even half that.. .

(1)(0)

Anon

Mill bank just upped NQ salary to £157,500 expect a massive US salary war to commence

(27)(1)

Expectant

Are you a Millbank UK assoc and can confirm the £ rate? We all know what the new US$ rates are. Just interested in what the £ conversion is.

(6)(1)

Us guy

Meanwhile, Milbank in the US raises salaries for 2021-2018 class years by $10k, and 2017-2014 class years by $20k. Will be interesting to see how that plays out.

(17)(0)

Keep them coming

Milbank’s associate raises announced today may well kick-off another round of salary increases across the US firms, closely followed by the MC firms and the rest. Let the battles continue…

(26)(0)

Anon

What tf is a Clyde & Co?? youre not a real law firm if NQ pay isn’t 90k JHEEZE pwhoar

(3)(23)

Anon

RPC ready too join the chat…?

(12)(1)

Insurance

RPC will bleed associates if they don’t react. £10k has to be the minimum.

(25)(1)

:)

They already pay over 10k a year, don’t worry

(9)(0)

Anon

This is quite respectable given the heavy insurance practice at Clyde’s. Many of the users on this platform don’t realise that insurance panels usually set a maximum fee they can pay which restricts the amount of fees the firm can take. Clyde’s are not a transactional firm. Respect the 14% increase and that that they have adjusted to the market. My only criticism is that this took quite a while, plus no movement in trainee salaries.

(17)(12)

Anon

No it isn’t. PEP at Clydes last year was 715k. At SH it was 685k and yet they are happy to pay their associates more.

(40)(0)

Anon

Taylor Wessing surely is next .. ?

(10)(7)

Thank u next

Never heard of him

(28)(2)

HODL $DWF

The same Taylor Wessing that increased salaries in… August?

(3)(1)

Anon

B&B on 71k…

(14)(1)

Pour one for my homies

Can everybody just stop and spare a thought for Pinsent Masons employees.

(19)(0)

Coin-iyo

Yeah baby

(2)(0)

Cooling

Fieldfisher on 85k? That’s sick considering their work life balance is blessed.

Good time to be a lawyer.

I wonder which law firm gonna do a money rise next?

(17)(0)

Hgg

Which firm is best value for money?

(1)(0)

Troy

It used to be RPC. Currently Clydes after their increase.

(7)(0)

Ex FF

I left FF as an Associate last year. In the exit interview, I stated that the low pay was a major reason for my departure. The HR lady wouldn’t hear a word of it. She was very fond of the market research that her department had undertaken. I told her that I was going to be paid 50% in my new role. My sense was that she didn’t really believe me (it was true, I’m actually making more than that now). I must confess, that I had a little chuckle when I read this headline.

(1)(0)

Lambo driving Freshfields fresher

Read this as “Freshfields” instead of Fieldfisher

(0)(1)

🐔

Why not just raise to cravath and align with the US market – is it really that unaffordable for the partners at these places?

(1)(4)

Lurking

LOL! Is that it?

(1)(3)

MC

🥜

(1)(5)

Comments are closed.

Related Stories