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.”