Travers doubles bonus pool to boost star partner pay flexibility
Travers Smith has doubled the size of the profit pool it makes available for partner bonuses to provide greater flexibility to reward top performers. The firm has increased the maximum size of the merit pool used to reward equity and fixed-share partners from 5% to 10% of profits available for distribution to partners. The 10% figure is the maximum amount it will allocate for bonuses going forward; however, the firm will not always pay out the full amount. The firm is currently deciding on bonuses for the 2010-11 financial year, with the new expanded bonus pool available to draw on.
Travers Smith has doubled the size of the profit pool it makes available for partner bonuses to provide greater flexibility to reward top performers.
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