Clifford Chance (CC) has rounded off the New York associate bonus season by setting its 2002 awards at $17,500 (£11,290) to $25,000 (£15,807).
The move closely follows the level set in December by its magic circle rival Allen & Overy for its US-qualified lawyers, with both firms broadly matching the benchmark rates set by the top New York firms.
However, CC’s awards will continue to include an element of performance-related reward, rather than being handed out to all lawyers on the basis of seniority, as is common practice at top US firms.
Wall Street leader Cravath Swaine & Moore fired the starting gun at the end of November by announcing bonuses of between $15,000 (£9,484) and $25,000 (£15,807).
