Meritocracy hits New Change as City giant overhauls fixed bonus schemes; all staff set to benefit
March 29, 2006 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Allen & Overy (A&O) is to hand out 50% of its annual bonuses on the basis of merit from next year, as the City giant moves to overhaul its assistant remuneration.
A&O’s board voted through proposals to inject a substantial amount of merit-based pay into its bonus scheme on Tuesday (28 March). The recommendations were drawn up by finance partner Andrew Trahair after a 12-month review of the firm’s bonus system.
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