A&O staff receive 11 per cent performance bonus

For the second year running, Allen & Overy (A&O) is to pay all of its staff a performance-related bonus

This year all employees will receive 11 per cent of their annual pay.
The figure is down on last year, when staff received 17 per cent. However, it is well over the 5 per cent forecast for the firm merely hitting budget.
A spokesperson for A&O said that once it had reached the budget, threshold profits went into a pool which incr-eased alongside the profits.
Most firms that pay performance-related bonuses give them only to fee-earners. The spokesperson said: “This scheme reinforces our value of working together as one firm.”
A&O posted a better than expected turnover for the last financial year, with gross fees up by 17.4 per cent to £580m.