An insider has just told RollOnFriday that Clifford Chance has frozen its salary bands for this year. And it's a very brave (or foolish) insider as apparently the firm has "told everyone that if they leak it to the press they will be subject to formal disciplinary processes".

It seems a little odd. Not necessarily freezing salaries - other firms are moving away from ever increasing basic rates and towards heftier bonuses (read more in Friday's edition). But threatening loose-lipped staff with the possibility of dismissal? CC is one of the best-managed firms in the City, and it's extraordinary that it would strong-arm its employees like this.

    A Clifford Chance associate yesterday

But the code of omerta is sufficiently strict as to extend to the firm's PR team. A spokesman said that a decision had been taken not to discuss pay this year as it was a "private matter". Hmmm. Presumably salaries were similarly private last year, when the firm was perfectly happy to discuss them. And the threat of disciplinary procedures? Apparently that too is a "private matter".



Anonymous 08 June 17 11:40

I'm sure they won't be the only firm freezing pay in real terms but probably didn't want to be the first out the bag.