Our London bonus prepare also enables overall flexibility to award a restricted quantity of much larger bonuses to associates and counsel for exceptional contribution as a result of things to do that insert important benefit to the business.
— A spokesman for Allen & Overy, commenting on the Magic Circle firm’s new yr-finish reward system for its London associates, which is section of A&O’s initiatives to compete with U.S.-dependent Biglaw companies with London offices. According to The Lawyer, these bonuses will be offered only to leveraged finance associates, when the firm’s spokesman told Bloomberg Regulation that all London associates would be eligible. No reward precise bonus scale was talked about.
Staci Zaretsky is a senior editor at Over the Regulation, the place she’s labored due to the fact 2011. She’d like to hear from you, so make sure you come to feel absolutely free to electronic mail her with any ideas, questions, reviews, or critiques. You can stick to her on Twitter or hook up with her on LinkedIn.