May 11, 2004 – LAWFUEL – Clifford Chance today announced its new base salary points for London lawyers for 2004 – 05. The basic salary for new qualified lawyers has increased to £50,000 per annum, and for first year trainees has increased to £29,000 per annum. The new salaries take effect from 1st May 2004.
London managing partner Peter Charlton said ‘We are pleased to be able to revise salaries upwards for lawyers and trainees. This reflects an improving performance in London and growing confidence in the economic outlook after a very difficult period.
‘It is important for us to compete successfully for the brightest and best lawyers. Our increased salaries, together with the revised bonus arrangements we announced last year, ensures that our total reward package remains extremely competitive.’
Clifford Chance takes on around 120 trainees each year, most of whom will go on to work as qualified lawyers in the firm.