The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
CMS Cameron McKenna has ditched its associate lockstep remuneration model in favour of a merit-based system.
The firm will bring in a three-tier salary system for associates, with each tier having an equivalent pay scale. Lawyers are expected to spend around two years on the lower tiers before becoming senior associates.
Managing partner Duncan Weston said: “Defining associate career levels according to competencies is an important step in building a culture that focuses on high performance as opposed to hours billed.”
The new model will come into effect next year, with the range for each scale yet to be determined. Camerons’ bonus system will also be reviewed next year, with any changes slated for 2012.
Allen & Overy, Ashurst, Freshfields Bruckhaus Deringer and Norton Rose are among the other firms to have moved to merit-based systems in recent years.