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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."