Magic Circle Pay Round Sees Clifford Chance Pay Increase

The Big Law pay scale continues to rise

Clifford Chance has raised pay for newly-qualified lawyers to £125,000 per year, matching the amount paid by Freshfields and eclipsing the amount paid by fellow Magic Circle firms Allen & Overy and Linklaters, which both sit at £107,500.

Clifford Chance’s rise follows the ongoing pay rise battle in London and is the second of the top law firms to raise the pay of junior lawyers, lifting their pay by 16 per cent. Freshfields Bruckhaus Deringer announced a pay rise for its junior lawyers from £100,000 to £125,000.

There remains a question of what some of the other major law firms in London might do, firms like Baker McKenzie, Hogan Lovells, Reed Smith whose pay at these levels stands at around £105-107.5k.

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