Lovells is set to change the way it pays bonuses to its non-equity partners to bring them in line with merger partner Hogan & Hartson. The new system will see Lovells' salaried partners receive a fixed sum paid out of a central bonus pool directly related to the overall profits of the firm. The system will be phased in over a two-year period and ultimately lead to a bonus pool that amounts to 15 percent of the overall profits of the firm -- the percentage currently used by Hogan & Hartson.
March 09, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Lovells is set to change the way it pays bonuses to its non-equity partners to bring them in line with merger partner Hogan & Hartson.
The new system will see Lovells’ salaried partners receive a fixed sum paid out of a central bonus pool directly related to the overall profits of the firm. The fixed sum is yet to be decided.
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