CMS has raised its newly-qualified (NQ) salary to £73,000 plus bonuses. Qualifiers will have the ability to earn a bonus of up to 20% on top of their salary, based on their performance and ‘contribution to the firm’.
The salary for regionally-based NQs at CMS will remain at £50,000 in Bristol and £41,000 in Sheffield. Trainee salaries will also remain the same: First year London trainees receive £43,000, rising to £48,000 in their second year.
Clifford Chance has also confirmed a pay increase. Effective from 1 September 2019, trainee solicitors at the Magic Circle firm will now receive £48,000 in their first year and £54,000 in year two; an increase of 3%. The firm now pays the highest trainee salary compared to its Magic Circle counterparts, closely followed by Linklaters, which offers a first year salary of £47,000. The move comes after Clifford Chance increased its NQ remuneration package to £100,000 including bonuses just two months ago.
Compare what you will earn as a trainee and newly-qualified solicitor here.