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.
Field Fisher Waterhouse (FFW) has rolled out its first-ever bonus scheme for associates and is in the process of reviewing its base salaries.
Managing partner Moira Gilmour said a top performer can expect a bonus of around 10 per cent of salary. The bonus pool is based on firm profitability and is open to all qualified lawyers.
Gilmour said: "We wanted to have a bonus scheme that wasn't based solely on individual performance. We're quite aware that what we offer has to be spot on."
Half of the bonus is based on the performance of the individual, which takes both billable and non-billable work into account, while the other half is derived from both firmwide and departmental profitability.
Gilmour confirmed that the firm would respond to market conditions and raise associate salaries, but that it has not yet finalised the details.
She said: "The market intelligence we have is very encouraging for assistants."