A&O's record year triggers new bonus

Allen & Overy's (A&O) London associates are set for a bonus of up to £23,100 following the firm's record financial performance this year.

According to the new bonus scheme, which went live in May this year, associates who meet the relevant competency requirements are in line for between 50 and 75 per cent of a partner profit point.

An A&O spokesperson said: "This bonus is the first step in our move towards a performance-driven reward package, reflecting both the performance of the individual and the success of the firm."

A&O revealed record financial results this year, with partner profit points at their highest-ever value at £30,800, which means that the minimum bonus equates to £15,400.

The associates eligible for the scheme are those in the London office who qualified before September 2004.