A little more light has emerged on the going rate for junior lawyers at the Magic Circle, with Allen & Overy (A&O) and Clifford Chance (CC) this week confirming more details on their new pay scales.
A&O confirmed that it has increased its pay bands for junior lawyers, with newly-qualified (NQ) solicitors earning £81,000 in salary, a 3% rise on the previous rate of £78,500. As a result of the revamp, first-year trainees will earn £44,000, rising to £49,000 in year two. The City giant has disclosed no details on bonus awards.
