Keeping the talent: Clifford Chance votes through changes to lockstep in bid to stem flow of star partners
The partnership at Clifford Chance (CC) has voted through proposed changes to its remuneration system which will see the firm deploy…
Salaries
Slaughter and May raises associate pay with NQs getting £5,000 boost
Traditionally a bellwether of trainee and associate salaries among the Magic Circle, Slaughter and May has made significant hikes to…
‘Culture of valuing and recognising everyone’s contribution’: Slaughters unveils bumper associate bonus package
Slaughter and May has increased the size of its annual bonuses, with associates qualified for more than four and a…
US associate bonuses: Simpson first to unveil, Cravath follows and Skadden tops with $110,000 bonus
The US bonus season, usually led by Cravath Swaine & Moore, has this year seen Simpson Thacher & Bartlett kick-start…
Scottish firms: Burness Paull awards staff 10% bonus while Shepherd and Wedderburn grows construction team
Scottish firm Burness Paull is awarding a 10% bonus to all its eligible employees across the firm’s three offices in…
In-House: JPMorgan Chase & Co General Counsel sells $2.58 million-worth of shares
Despite not having made it into the latest top 100 salary-based compensation rankings of US general counsel (GCs), the earning…
GE’s top lawyer holds on to first place in compensation rankings with new entries from Blackstone and Coca Cola
The latest US general counsel (GC) compensation rankings have seen General Electric’s (GE’s) top lawyer Brackett Denniston hold on to…
Guest post: Law schools kickstart the greed process – the damage of using money to motivate lawyers
One of the interesting sub-plots of the Big Law vs New Law debate is the way in which workers (partners…
Associate pay 2014 – ‘A good year’ sees CC boost salaries and bonuses across the board
Magic Circle firm Clifford Chance (CC) has significantly raised its salary package for its newly qualified (NQ) lawyers and junior…
Associate pay: Shearman raises English-qualified lawyers’ salaries by up to 6.4% across the board
Shearman & Sterling has announced a salary boost for its English-qualified lawyers, increasing pay levels across the firm’s three-tier merit based…
Countdown: HMRC’s LLP tax changes to go ahead in April
The controversial debate over taxation of limited liability partnerships (LLPs) has reached a decisive stage as changes are scheduled to…
Merit driven pay – Slaughter and May introduces discretionary associate bonus
Building on its decision earlier this year to introduce an element of merit to its associate pay, Slaughter and May…
Quarter of in-house lawyers’ salaries frozen in past 12 months as average increase falls
Almost a quarter of in-house lawyers suffered pay freezes in the last 12 months, double the 10% who had their…
HMRC review raises questions over law firm financing as banks tighten up lending terms
Law firms are facing a shake-up of their banking and taxation arrangements as both lenders and HM Revenue & Customs…
Asia-Pac continues to challenge new entrants as DLA Piper freezes Australia salaries
The impact of the Australian downturn has once again been thrown into sharp relief after DLA Piper’s staff in the…
A&O falls behind on associate pay table as it announces a freeze
Allen & Overy (A&O) has become the latest of the Magic Circle to reveal that it is holding its associate…
Guest post: Forget Dewey – what you need to be assessing on strategy and partner pay
Law firm managers who are planning large-scale, hubristic expansion-by-acquisition should study the Dewey & LeBoeuf morality play very closely. The…
Another conventional wisdom
A lot of firms talk a lot of rubbish about cohesive, collegiate partnerships these days but the competitive spirit within…
General counsel pay still bolstered by bonus culture
The bonus, not the pay rise, was how companies rewarded the efforts of their general counsel (GC) in 2012. This…
Freebies needs to address profitability concerns from the get-go
By the time you read this the Herbert Smith Freehills merger will be live – a firm with revenues of…