Big Law’s biggest, Clifford Chance, is handling out a cost-of-living bonus to staff.
The rising cost of living, combined with the rising revenues of Big Law firms, has seen the firm hand out as bonus in lump sums of £1500 to its trainees and business services professionals.
The payment follows moves by some of the other big firms, such as Bird & Bird, who have provided similar ‘bonuses’. These have ranged from £1000 or more not just for cost of living issues but also for educational and post-graduate course assistance.
However, not every London law firm is playing the generosity game, it seems. Allen & Overy and Linklaters have reportedly frozen salaries, which has not pleased those facing the same cost-of-living pressures that the Clifford Chance staffers face.