Cleary Gottlieb Increases Newly Qualified Lawyer Salaries to £172500 and Introduces Additional Support for Vacation Scheme Participants
US law firm Cleary Gottlieb Steen & Hamilton has announced an increase in salaries for its newly qualified (NQ) lawyers in London to £172,500. This adjustment reflects a nearly 5 per cent rise, amounting to an additional £8,000 from the previous NQ salary of £164,500.
This salary enhancement positions Cleary ahead of several competitors, including Jones Day, Orrick, and Weil, which offer salaries of £170,000, while remaining just behind Paul Hastings, Morgan Lewis, and Fried Frank, which provide £173,000.
In addition to the NQ salary increase, Cleary has raised trainee solicitor salaries to £62,500 for the first year and £67,500 for the second year. These changes are part of the firm’s strategy to attract top talent in a competitive market.
Furthermore, Cleary has introduced a new £500 allowance for all participants in its vacation schemes. This allowance is intended to assist with living costs and is in addition to the existing £750 weekly payment that vacation schemers receive.
The firm aims to make its vacation schemes more accessible to candidates from diverse backgrounds, acknowledging the financial challenges that many prospective trainees face. Cleary typically recruits around 16 trainees each year, and the additional financial support is a step towards inclusivity.
Applications for Cleary’s winter vacation scheme are currently open, with applications for the spring and summer schemes also being accepted until 29 January 2027. The firm encourages candidates to review the deadlines for all leading law firms in the sector.
Despite these increases, there are concerns regarding the adequacy of financial support for trainees, particularly those who must manage living expenses in London. Critics argue that the current allowances may not sufficiently cover the high costs of accommodation and other living expenses, especially for those without financial support from family.
As the legal profession continues to evolve, firms like Cleary are under pressure to ensure that their compensation and support structures align with the realities faced by new entrants in the industry.