Law firm Clifford Chance delivered good news to its US associates recently. The esteemed firm, known for generating over $2.5B in gross revenue and ranking 13th on the G200, announced that it will match the Cravath scale on all counts. This decision brings a significant increase to the associates’ salary schedule. Below presents the newly updated remuneration framework:
- Class of 2023: $225K
- Class of 2022: $235K
- Class of 2021: $260K
- Class of 2020: $310K
- Class of 2019: $365K
- Class of 2018: $390K
- Class of 2017: $420K
- Class of 2016+: $435K
Alongside the hearty pay raises, the firm also communicated their new bonus payouts, outlined as follows:
- Class of 2023: $15K (pro-rated)
- Class of 2022: $20K
- Class of 2021: $30K
- Class of 2020: $57.5K
- Class of 2019: $75K
- Class of 2018: $90K
- Class of 2017: $105K
- Class of 2016+: $115K
However, associates will not receive these payouts until January 12. The London-based firm has decided to wait until after the holidays to begin distributing these raised benefits. It’s encouraging to witness law firms recognizing the talent of their associates by adjusting their remuneration accordingly.
More details about this firm’s salary changes can be found at Above the Law.