Clyde & Co raises junior lawyer pay to £80k

14% rise

Clyde & Co has increased the salaries of newly qualified (NQ) solicitors in London to £80,000.

The 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.

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.”

Clyde & Co joins 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.

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