Clifford Chance (CC) has become the second Magic Circle firm to dish out competitive year-end bonuses to US associates, after Freshfields Bruckhaus Deringer matched US competitors’ rates last week.
Both firms will pay their junior lawyers a lump sum based on their year of qualification. At both CC and Freshfields, newly qualified (NQ) associates will receive a prorated bonus of $15,000, the 2021 class of associates will receive a $20,000 pay-out, while at the top-end, seven and eight-year associates will receive $105,000 and $115,000 respectively.
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