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Simmons & Simmons is rolling out a new bonus structure for all non-equity partners ;in ;a ;bid ;to harmonise remuneration across its global network. Salaried partners will now be given a reward of between 20 and 50 per cent of annual pay, depending on personal appraisals.
Previously there were different bonus schemes in each of the countries where Simmons has offices. The new system was launched last month and is currently being applied to the firm’s Europe, Asia and Middle East practices.
Managing partner Mark Dawkins said: “We’ve tried to harmonise what we do internationally by rolling out a scheme to give all non-equity partners a bonus opportunity. Each partner has the opportunity to earn that bonus dependent on their appraisal.”
He added that the assessment takes into account factors such as individual and practice group performance.