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.
Partners at Clifford Chance may have to wait longer to be promoted to the top level of partnership within the new merged firm.
It is believed that under the new regime it will take an extra year for partners to reach "plateau" level. At present a newly promoted junior partner can expect to reach that stage in nine years, but in future it will take an extra year.
Such a move would help keep earnings for the firm's top lawyers at a higher level and maybe a covert way of thinning down the partnership.
As The Lawyer revealed (14 June), Rogers & Wells will enter the Clifford Chance lockstep pay system, by which partners are paid according to seniority until they reach plateau level when they are all paid the same amount.
A spokesman from Clifford Chance says: "The timing will remain nine years for the foreseeable future."