City giant Clifford Chance last week announced a small £1,000 pay rise for assistant solicitors, taking the basic salary for a newly qualified to £51,000.
One-year qualified lawyers have had the same increase from £55,000 to £56,000 per annum. The salaries take effect from 1 May 2005.
The firm said that following changes made to its bonus scheme last year and increased business activity this year, average bonuses rose around 14.75%, resulting in a higher overall reward package.
London managing partner Peter Charlton said: ‘Our mix of salary increases and higher bonuses reflects the strong performance of the London office. We are confident that our total reward package remains highly competitive and will continue to attract the best young lawyers in the market.’
Some US law firms in London pay newly qualifieds more than £60,000.
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