The pay raise from £96,000 to £105,000 is equivalent to roughly 9 per cent, and brings NQ lawyers on a par with associates at the firm with one year's post qualification experience. Though still dizzying, the raise is not quite in the same league as other US firms like Akin Gump, Davis Polk, Kirkland & Ellis and Latham & Watkins, which have brought the ‘Cravath pay scale’ across the Atlantic and lifted NQ salaries to £124,000 per year. However, the increase is sweeter still for the firm’s trainees, who will see their annual base salaries lifted 14 per cent from £42,000 to £48,000 in their first year and up 11 per cent to £52,000 in their second. Pay has also been lifted lawyers with two and three years' post qualification experience, to £112,000 and £125,000 respectively. Cleary Gottlieb offers around 18 training contracts each year in London.
Source: Legal Cheek
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