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Bankers’ bonuses on the racks again as Government set to clamp down on cronyism
Freshfields’ Simon Evans and Alice Greenwell examine whether the Government’s pay proposals will drive change
27 Jan 2012 | 00:00 | 
SNR Denton partners question one-off £500k payout for former chairman
SNR Denton partners have criticised a payout to former Denton Wilde Sapte chairman James Dallas of around £500,000 last year, despite profits per equity partner (PEP) falling by 36% in 
the UK partnership. City energy partner Dallas, who chaired...
27 Jan 2012 | 00:00 | 1 comment
The minimum salary for trainees: in real trouble this time
Every time there is a recession, the solicitors' profession likes to reconsider minimum salaries for its trainees. For a while this was a kind of annual sport. Chairs of the Trainee Solicitors' Group and the Young Solicitors' Group Lawyers (I did both...
26 Jan 2012 | 14:20
Lawyers call for caution after Cable's executive pay reform proposals
Lawyers have urged caution in the wake of Vince Cable's proposals to reform executive pay, with some warning that popular pressure to curb business leaders' salaries could result in knee-jerk legislation. The Business Secretary's proposed reforms, ...
26 Jan 2012 | 11:23 | 1 comment
SRA kicks off rethink of minimum trainee wage
The Solicitors Regulation Authority (SRA) is considering the abolition of the annual minimum wage requirement for trainee solicitors. The SRA board launched a consultation at its meeting yesterday (11 January), with the consultation paper finding t...
12 Jan 2012 | 12:08 |
Kirkland boosts pay for new London qualifiers by 8% to £97,000
Kirkland & Ellis has increased newly-qualified lawyer (NQ) salaries to £97,000 in a move which will bring it in line with rival US firms including Weil Gotshal & Manges. The salary increase, which represents an 8% increase on last year's rate of Â...
06 Jan 2012 | 14:54 |
Simmons cuts exiting partner payouts in performance crackdown
Simmons & Simmons has cut the cost of managing equity partners out of the firm by slashing the compensation to be paid out to most exiting partners, with the move coming as the firm’s management takes steps to crack down on underperformance. The ...
08 Dec 2011 | 00:00 |
Diminishing returns - do US firms rely too much on financial compensation?
Patrick McKenna and Edwin Reeser ask whether US law firms rely too much on financial compensation to ensure they get the best performance out of their partners
01 Dec 2011 | 00:00 |
The laws of happiness - how content are law firm employees?
Overall employee satisfaction has increased among lawyers – however, dissatisfaction over bonus schemes has reached a new low. Vanessa Ip reports
24 Nov 2011 | 00:00 |
Sexual harassment is not all bad
To all the readers who have been complaining that The Careerist gets too uptight (click here and here) about gender discrimination, I'm ready to offer you a truce. On the sexual harassment front, at least, I'm now holding my fire.
15 Nov 2011 | 10:44
Slaughters cuts trainee bonuses with associate pay rates held static
Slaughter and May has cut back the bonuses it pays to its trainees, with associate salaries held static in the firm's latest pay review. The magic circle firm, which last year paid its trainees a bonus of 8% of salary, has opted to cut this to 4% f...
31 Oct 2011 | 12:06 |
Why the irregularities in calculating PEP make it an inadequate indicator of success
When times are good, most partners are content with their lot. However, over the last three years, legal practices have been hit with an onslaught of lower demand for services, increased competition, higher tax rates, regulatory change and the disappe...
20 Oct 2011 | 00:00 |
Addleshaws ups pay for NQ lawyers in both London and the regions
Addleshaw Goddard has pushed up salaries for its newly-qualified (NQ) lawyers, with those in the firm’s regional offices seeing pay increase by 4%, against a rise of under 2% in London. The increase, which took effect last month, saw salaries for NQ...
12 Oct 2011 | 13:00 |
The things that keep fees high (and the things that don't)
What makes City law firms cost as much as they do? As the heated debate generated by FT GC Tim Bratton's recent blog illustrates, it's a familiar topic. The usual suspects put forward include partner profits, hourly billing, associate salaries, the me...
07 Oct 2011 | 17:20 | 11 comments
Norton Rose votes through overhaul of partner pay system
Norton Rose equity partners will see their share of the firm’s profits re-based as part of an overhaul of the lockstep and the introduction of a more merit-based remuneration structure. The shift, which was voted through by partners over the summ...
29 Sep 2011 | 00:00 |
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