April 13th, 2007 – lawjobspipeline.com/blog2 – Law jobs at London’s office of mega firm Clifford Chance just became more attractive with a 15 per cent boost in income. A Clifford Chance lawyer with three-and-a-half years’ experience will see his or her salary increase from £81,000 to £89,000. Those with one year’s post qualification experience will receive £66,000.
The firm has a bonus system that takes effect after anywhere from six months post qualification experience to one year, with a maximum of 20 per cent bonus on the base salary. The firm intends lifting this bonus figure to 40 per cent from 2008 for lawyers with four years PQE.
The Lawyer magazine reports that the Clifford Chance bonus, which kicks in at 1,700 billable hours, is made up of three elements, namely an individual’s billable contribution, their ‘investment hours’, which include non-billable contributions such as helping to develop training and recruitment, and an individual’s ‘quality’ element, which refers to their ‘lawyerly skills’.