Both firms have announced that they will be matching the associate bonus scale set by Wall Street heavyweight Cravath, Swaine & Moore for associates in their US offices. This week, Clifford Chance confirmed that associates with more than nine years PQE will be receiving a $100k bonus this year, ranging downwards in increments to $15,000 for associates that qualified in 2015 and 2016. As with other years, associates will be paid bonuses based on an assessment of their personal contribution to the firm, including the quality of their work, teamwork and pro-bono efforts. The bonuses are set to be paid on 17 January.

Meanwhile, Allen & Overy US managing partner David Krischer has confirmed that the firm will also be matching the Cravath associate bonus scale. Announced earlier this week, Cravath’s scale remains unchanged from last year and is as follows:

2008 & 2009 associates: $100,000

2010: $90,000

2011: $80,000

2012: $65,000

2013: $55,000

2014: $25,000

2015: $15,000

2016: $15,000 (pro-rated)

Sources: Legal Business; Legal Week