As the legal hiring market hardens, Clifford Chance is considering a change to its remuneration scheme to better reward high-performing partners, according to the Law.com International Edition.
This improvement is aimed at attracting and retaining top talent in the firm amidst strong competition from high-paying U.S. law firms infiltrating the London market. Indeed, several UK-based firms have already been the target of these American practices.
While the specifics of the planned change are not available due to the paywall restrictions on the original report, this move signals Clifford Chance’s response to the struggle of retaining their best performers in an increasingly lucrative market.