Clifford Chance has revised its method for calculating associate bonuses in the U.K., reflecting a shift towards a more U.S.-style pay structure. This adaptation aims to better reward associates during periods of exceptional demand. According to individuals familiar with the change, the firm still values “well-rounded” performances but intends to offer compensation that is more in line with what is available at U.S. firms.
This change is seen as a strategic move to offer better compensation for increased billable hours during high-demand periods, yet without “actively encouraging a drive to a high billable culture.” For more details, you can read the original article here.