The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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.
Three US firms have decided to pay their associates and counsel a special "boom-year bonus".
The three New York - based firms - Sullivan & Cromwell, White & Case and Millbank Tweed Hadley & McCloy - will pay bonuses ranging from US$8,000 to $20,000.
At the moment Sullivan & Cromwell is the only one of the three to reward its London-based associates. The firm's managing partner, William Plapinger, said the 30-lawyer London office associates would get a special bonus on top of their normal salaries.
The bonus will vary between $8,000 for first-year qualifieds to $20,000 for senior associates.
Plapinger said: "It will be paid in recognition of the extraordinary demands our practice has made on them over the year."
White & Case is limiting its $10,000 bonus payment to its New York associates. A spokeswoman said they were being rewarded for the extra effort they had made for the firm over the year. There was a possibility that the scheme could be extended to London-based associates, she added.
John Bellhouse, White & Case executive partner in London, said the London-based associates would get a year-end bonus "reflecting the efforts of the office and the individual".
See City Lawyer comment "No such thing as easy money" on page 12.