Clifford Chance has become the latest firm to cut back bonuses for U.S. associates, with the announcement that it is to halve its year-end payouts. The U.S. arm of the Magic Circle firm will award bonuses ranging from a prorated $17,500 for first-year associates to $32,500 for eighth-year associates -- a significant decrease from last year, when the firm awarded bonuses ranging from $35,000 to $65,000.
December 08, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Clifford Chance has become the latest firm to cut back bonuses for U.S. associates, with the announcement that it is to halve its year-end payouts.
The U.S. arm of the Magic Circle firm will award bonuses ranging from a pro-rated $17,500 for first-year associates to $32,500 for eighth-year associates — a significant decrease from last year, when the firm awarded bonuses ranging from $35,000 to $65,000.
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