Norton Rose has increased its associates’ salaries to be on par with the magic circle’s.
The firm has matched Clifford Chance‘s recent rise in salaries for newly qualified lawyers, with Norton Rose’s newly-qualifieds having their salaries increased by more than 15 per cent, from £55,000 to £63,500, the same as at Clifford Chance.
Its lawyers at the one year-PQE level will see a rise of 17 per cent to £69,000, also from £55,000, while two year-PQEs will be able to earn as much as £80,500.
Associates with more than three years’ PQE could surpass Clifford Chance’s lawyers of the same experience. A lawyer at this level at Norton Rose will be able to earn up to £90,700, up from £73,700, while Clifford Chance lawyers saw an increase in their salaries from £81,000 to £89,000.
Norton Rose’s associates will also be able to earn up to 25 per cent more in bonuses. These kick in after 1,500 hours and work on a sliding scale depending on work output.