AWARDS: Clifford Chance recognises 'significant contributions'

Global giant Clifford Chance is doubling the amount of bonuses its London assistants can earn and increasing the extent to which non-billable work is considered in awarding the bonus.

The move - which comes at the end of a consultation commenced last year - was implemented because of feedback from assistants that the last scheme 'lacked transparency and clarity'.

The firm says its assistants can now earn more than any others in the City.

Under the new scheme, the base salary of assistants will have a potential lift of 20% for newly qualified assistants (currently on a base salary of 48,000), 30% for up to three-year qualifieds, and 40% for more than three-year qualifieds.

The figures were previously 10%, 20% and 30% respectively.

The bonus will be awarded half on the basis of quality of work, with the other half divided equally between billable hours (subject to assistants achieving 95% of the 1,700 hours target) and a new 'investment hours' category.

The investment hours consist of pro bono work, 'other community- related activities', client relationship and development, contributions to know-how and creation and presentation of training modules.

Investment hours will be taken into account subject to the assistants achieving a minimum threshold of 100 hours.

Clifford Chance's London regional managing partner, Peter Charlton, said: 'This market-leading scheme enables us to recognise and reward significant individual contributions, and means that our best performers can expect to receive a total reward well in excess of that of their peers in major competitors in London.'

The move indicates a renewed emphasis on junior lawyers in the world's biggest firm.

Last year, a leaked memorandum from associates in the firm's New York office revealed serious disquiet with the partnership among some junior lawyers (see [2002] Gazette, 31 October, 3).

Jeremy Fleming