5% across the board
International firm Osborne Clarke has handed bonuses out across the firm after a bumper financial performance.
The profit share, which hands all UK members 5% of their annual salary, follows financial results that saw UK net profits increase by 14% to £84.8m, with Profit per equity partner (PEP) increasing 11% to £771,000.
The bonus was paid out to staff in June, with a pro-rata adjustment for new starters. The minimum payment was fixed at £2,000.
The payout notably includes all trainees, newly qualified and junior lawyers. Whilst the firm’s newest batch of trainees will, subject to start dates, have taken home anywhere from £2,000 up towards £2,750, NQ lawyers at the firm’s London office will have bagged as much as £4,500 for their contributions.
Those further up the ladder will also be pleased to hear that the firm had its biggest round of partner promotions in the last decade, with 11 new UK partners. This comes alongside a bonus scheme which will see “high performers” receive bonuses of up to 40%, paid over three years.
This year’s financial results season is off to a strong start across the board. Weightmans has reported its most successful year to date, taking income up 12% to above £140 million, with HFW pushing its turnover over £250 million, an 11% boost.
International firm Kennedys has also reported a record year of growth, clocking a revenue of £384 million, a 17% increase on last year.
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