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Allen & Overy (A&O) has unveiled a firmwide bonus of 9.3 per cent of salary, representing more than one month’s pay for every member of staff.
This year is the seventh consecutive year that a bonus to all staff has been paid. The current scheme, whereby a proportion of profits are allocated into a bonus pool, has been in existence for four years, during which time some £72m has been cumulatively paid to staff. The bonus based on the 2003-04 financial year is payable this month.
An A&O spokesperson said: “Rewarding all our people based on the success of the whole business demonstrates our commitment to working together as one firm and distinguishes us from other law firms.”