A&O begins bonus pool to protect high-flyer partners from raids

Allen & Overy is half way through its first year using a new bonus pool for top-performing partners and lateral hires - aimed at giving them more compensation in order to bind them in and protect them from offers from other firms.

The proposal was backed by 90% of partners when they voted on it. The main existing profits share stays in place - in which, over a period of 15 years, partners climb up on a points scale from 20 to 50. The new pool will give them extra points which they earn regardless of how long they have been in the firm.

No maximum

There are no specific criteria laid down about which kinds of partners will be included in the bonus scheme. And there is no maximum limit on the number of people who can be included in it. The 'vast majority' of partner compensation will still come from the main pool, according to a source in dicussion with The Lawyer

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