Clifford Chance is abandoning its current bonus system of using billable hour targets as the key benchmark for associate bonuses. The firm previously determined associate bonus payouts based on performance, but only if individuals had first reached a target number of hours billed. The Magic Circle firm says it will continue to take billable hours into account when determining bonuses, but will now also give more importance to other criteria, independent of how many hours associates have billed.
April 13, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Clifford Chance is abandoning its current bonus system of using billable hour targets as the key benchmark for associate bonuses.
The firm previously determined associate bonus payouts based on performance, but only if individuals had first reached a target number of hours billed.
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