Extra 16%
Clifford Chance has joined the magic circle pay war, upping rates for newly qualified associates to £125,000.
The cash injection equates to a hefty rise of 16% or £17,500, with base rates previously set at £107,500. The firm last increased NQ pay in November.
The revised salary sees CC match that already on offer at Freshfields (£125,000) and surpass the £107,500 dished out by Allen & Overy and Linklaters. NQ rates at Slaughter and May currently sit at £115,000.
The Legal Cheek Firms Most List 2022 shows CC provides around 95 TCs annually, one of the highest offerings by any City outfit, with a salary of £50,000 in year one, rising to £55,000 in year two.