The partnership at Clifford Chance (CC) has voted through proposed changes to its remuneration system which will see the firm deploy a more flexible lockstep by stretching the top of the ladder in a bid to retain star partners.
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 the salaries it pays junior lawyers.
Continue reading “Slaughter and May raises associate pay with NQs getting £5,000 boost”
‘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 half years set to receive an additional 15% on top of their salary.
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 the process ahead of the traditional schedule, and set a very high bar for the rest of the American elite firms.
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 Aberdeen, Edinburgh and Glasgow following a strong set of annual results which saw a 20% rise in turnover and a 25% increase in profit.
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 power of GCs based on stocks has again come to the fore after JPMorgan Chase & Co’s GC Stephen Cutler sold off 43,997 shares priced at $58.74, making Cutler $2.58m.
Continue reading “In-House: JPMorgan Chase & Co General Counsel sells $2.58 million-worth of shares”
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 first place despite a significantly reduced salary of $5.8m compared to 2012, as new entrants to the latest top 10 include Blackstone Group’s John Finley and Coca Cola’s John Parker. Continue reading “GE’s top lawyer holds on to first place in compensation rankings with new entries from Blackstone and Coca Cola”
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 and their equivalents, salaried partners, employees) are motivated.
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 ranks.
Salaries will be raised across the board, with first year trainees seeing an increase from £39,000 to £40,500 while year two trainees will receive an extra £1,500 to £45,500. Continue reading “Associate pay 2014 – ‘A good year’ sees CC boost salaries and bonuses across the board”
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 system by up to 6.4%. Continue reading “Associate pay: Shearman raises English-qualified lawyers’ salaries by up to 6.4% across the board”