Partners at Ashurst have voted in favour of a single yearly profit payment to replace quarterly distributions. Continue reading “‘Overwhelming support’: Ashurst votes for annual profit payouts”
US bonuses: Simpson and Davis Polk match Cravath rewards of up to $100,000 for associates
Leading Wall Street firms have begun announcing their 2016 year-end associate bonuses with Cravath, Swaine & Moore leading the way again on rewards with other Manhattan firms following suit.
Ashurst shakes up payment model following halted quarterly payments
Ashurst is to get rid of its quarterly profit distributions in favour of a single yearly profit payment, in a move subject to a partnership vote. Continue reading “Ashurst shakes up payment model following halted quarterly payments”
Government proposes 15% pay raise for judges to battle recruitment crisis
With members of the judiciary the target of spiteful press coverage just weeks ago following the Brexit High Court ruling, the latest move by government to gift judges a pay rise of 12 to 15% will likely stir tensions further. Continue reading “Government proposes 15% pay raise for judges to battle recruitment crisis”
Bond Dickinson latest to restart salary review after postponing due to Brexit
Bond Dickinson has restarted its salary review, after the firm postponed the process in September due to the effect on activity levels caused by Britain’s vote to leave the EU. Continue reading “Bond Dickinson latest to restart salary review after postponing due to Brexit”
Overdue: Ashurst partners to receive quarterly distributions after successive delays
Ashurst partners are set to receive their quarterly profit distributions this month after payments were delayed earlier this year.
A partner at the firm confirmed that quarterly profit distributions are expected this month after Ashurst halted its August payout to partners following disappointing 2015/16 financial results, which saw profit per equity partner drop by 19%.
Inside KWM’s rescue deal: Management guarantee minimum earnings as salaried partners also tapped for cash
As the European and Middle East partnership of King & Wood Mallesons considers a rescue plan to stabilise the business, Legal Business can reveal the firm has made a cash call to salaried partners, and guaranteed minimum earnings to equity partners.
Linklaters votes for Moore’s lockstep reforms but controversial features dropped
Linklaters partners have voted today (3 November) to accept changes to the firm’s lockstep that will provide more flexibility in moving partners on the ladder.
Continue reading “Linklaters votes for Moore’s lockstep reforms but controversial features dropped”
Clifford Chance begins review of lockstep points to encourage high achievers
Nearly 18 months after voting through modifications to its remuneration system, Clifford Chance (CC) has kicked off a firmwide review of where partners should sit on its lockstep in a bid to curb under-performance and retain star partners. Continue reading “Clifford Chance begins review of lockstep points to encourage high achievers”
Clifford Chance begins review of lockstep points to encourage high achievers
Nearly 18 months after voting through modifications to its remuneration system, Clifford Chance (CC) has kicked off a firmwide review of where partners should sit on its lockstep in a bid to curb under-performance and retain star partners.
The firm traditionally operated a lockstep system with a single profit pool, where partners spent three years as juniors before progressing on to the equity ladder, which ranged between 40 and 100 points.
Continue reading “Clifford Chance begins review of lockstep points to encourage high achievers”