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UK City Firms

Clifford Chance (London)

Our view...

Clifford Chance, the product of a merger in 1987 between Coward Chance and Clifford Turner, used to be looked down on as the new kid on the block by the more established members of the Magic Circle. Not any more. Its brand is up there with the best in the world and its policy of rapid global expansion has made it a dominant name on the international market.

CC wasn't too shy during the worldwide economic collapse, making nearly 100 London lawyers redundant. And while the firm denied any formal partnership restructuring there were rumours of partners being given the elbow on the quiet. A rumour which CC did little to dispel when it approved plans to allow for the speedier exit of under-performing partners.

The firm has massive banking and finance practices, and there was just not enough work around in those fields, hence level turnover - about £1.2 billion - for a couple of years. In 2011/12 it was re-energised, turnover rising to £1.303bn and profits per equity partner at £1.078m. In 2014/15, things slipped a bit, with the firm blaming a weak euro and tough conditions at its three German offices as turnover dropped marginally by 0.7% from £1.36 billion in 2013/14 to £1.35 billion, while profits and PEP fell 2%, to £450 million and £1.12m respectively.

Freshfields and Linklaters et al may consider themselves slightly grander on the corporate finance front (and they've slightly higher partner profits to boot), but there is no denying that CC is still one of the top corporate firms in the world. Along with Allen & Overy it is the top finance firm in the City, and in securitisation it is pre-eminent.

The firm has the predictable raft of high profile clients, including the usual roster of banks - Santander, BNP Paribas, Citibank, HSBC, RBS etc. It is also one of the most avant garde of the big firms. CC was the first UK firm to sign up to the LawWorks and Bar Pro Bono Unit's joint agreement which ties it into doing a certain amount of work a year for free. It was the first big firm to pull off a merger with a major New York outfit. 

The hours are an inevitable downside to working for a firm the size of CC. Long hours and huge deals, however, are features of life at all large firms, and there's no suggestion that CC is anything other than completely typical. Though it rankles associates when, as one put it, the money is "crap ... compared to the US firms." And perhaps work allocation could be better, as one lawyer notes that whilst "some are overloaded ... others are deathly quiet". For those burning the midnight oil, an associate says "proper support staff" are provided "through the 24-hour Document Production Unit" as well as "excellent CC club sandwich and chips delivered to your desk".

As for work colleagues, one associate says that the "dominance of the grey shoe brigade" is "living proof that the geeks shall inherit the earth". Another lawyers complains of "greedy partners" who are "totally out of touch with what is a decent lifestyle". However, others report of "nice and unpretentious" staff and that there are "fewer chippy sociapaths" than at other firms.

The firm has adopted the same method of presenting its latest rises as Linklaters, wrapping up the bonus figure with the salary figure to give a total compensation figure. It makes CC and Links' numbers look very good compared to the rest of the Magic Circle, since Allen & Overy, Freshfields and Slaughter and May state bald salary figures, not inclusive of bonuses.

The offices may be in Canary Wharf, but they cost a fortune and are stunning. There's an enormous gym, with ranks of the latest equipment and plasma screen TVs, subsidised personal trainers, masseurs and beauticians on hand, several restaurants (the lychee martinis in the bar are apparently a must) and a swimming pool with views over London (although some associates grumble that they never get the chance to use it, and if they do they “run the gauntlet of more work being placed on your desk when you get back”. Plus, who wants to risk seeing their supervisor in Speedos?).

Working at a firm of this size brings the usual pros and cons. You will spend long hours as a small cog in a very big wheel, but then first class cash, support, training and work, a truly international reputation and opportunities to work abroad provide ample compensation. And, of course, there is that swimming pool... and we are reliably informed an impressive step instructor on Tuesdays.

For more information about Clifford Chance click here
For more information on Clifford Chance click here


Salary (1st seat trainee): £43,500
Salary (NQ): £85,000
Salary (1PQE): £95,000
Salary (2PQE): £109,500
Salary (3PQE): £120,500
Salary (Salaried partner):

Bonus Scheme

Bonus scheme: Yes
Typical bonus as % of salary
- NQ: %
- 1PQE: %
- 2PQE: %
- 3PQE: %
- 4PQE: %
- 5PQE: %
- Partner: %


Grant for GDL: £6,000
Grant for LPC: £7,000
Training places per year: 100
% of trainees retained: 96%

RollOnFriday Firm of the Year Scores

Salary: 72%
Development: 68%
Work/Life: 49%
Openness: 60%
Biscuits: 92%
Toilets: 84%
Social: 68%
Firm of the year overall score: 70%


Holiday allowance: 25
Flexi holiday: No
Pension: From 4% to 12% depending on age
Healthcare: Yes
Maternity policy: 28 weeks on full pay and 17 weeks on statutory maternity pay
Target hours: 1800
Childcare vouchers: Yes
Gym: Yes, on site and swimming pool
Restaurant: Yes, subsidised
24 hour photocopying support: Yes
24 hour secretarial support: Yes
Other: Can buy or sell up to five days holiday each year, cycle to work scheme, salary sacrifice car scheme, dental plan, concierge service


News Stories

Clifford Chance retains 77% of qualifying trainees
No place for 13 ... read more > (8 comments)
Exclusive: Clifford Chance 'confident' after bricklayer's cover up claim
SRA says it is likely to investigate ... read more >
Exclusive: Clifford Chance partner used office for sex "multiple times"
When you gotta go ... read more > (10 comments)
Clifford Chance in court to fight for the genderless
X marks the smooth spot ... read more > (20 comments)
Clifford Chance and partner hit with £100k fine
Eek ... read more >
Exclusive: Clifford Chance partner to be prosecuted by SRA
He may have been a touch too optimistic about a client's chances of winning $1.6 billion ... read more > (5 comments)
Clifford Chance wins right to fight for gender-neutral passports
X already marks the spot in Australia and NZ, but the UK is still binary ... read more >
Clifford Chance sued for working tax consultant too hard
She claims she was persecuted for making lots of private phone calls ... read more > (3 comments)
Exclusive: Slaughters freezes pay, Clifford Chance only matches inflation
Sign of things to come? ... read more > (5 comments)
Exclusive: Law firms to release branded children's stories
Unbelievable books will hit shelves tomorrow ... read more >

Your Views

Feel free to enter your comments on the news story below, subject to our terms and conditions. Please note that comments are subject to moderation and so will not appear immediately.

Please keep it nice. Thanks.

anonymous user
19/12/2011 20:57
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I was at CC for 6 years and loved every second of it. The hours are demanding but they treat their staff very well. In terms of redundancies the packages were generous and friends at other firms were just booted out on the basis of 'performance'. CC were open, honest and fair, I'd work for them again in a second.
anonymous user
03/01/2012 14:37
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CC's target hours went up to 1800 a few years ago
anonymous user
03/02/2012 16:48
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The salary figures for CC seem out of date.

See June 2011 news on CC salary:

If the article is correct, that would put CC as the second highest salary paying Magic Circle firm, just after Freshfields. With A&O being the lowest in terms of basic pay. (excluding bonuses)
anonymous user
16/03/2012 21:55
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I worked at CC for many years but was moved on after the downturn. I would rate it demanding, but fair, honest and human. Quality in my view is a bit more patchy than, say, S&M or Links, but they are more prepared to take risks to try to get it right as the first mover. The dynamic approach is worth a lot and they are very good at integrating lots of different cultures.
anonymous user
02/10/2015 12:40
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I would like to follow up the notion that Clifford Chance were the driving force in the campaign calling for an abolition of the silk system; however I cannot find anything on it. Would you mind pointing me to your source/an external article that corroborates yours?
anonymous user
18/02/2017 14:48
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What is the grey shoe brigade?