Herbert Smith augments Australian pay system to keep top talent

The partner remuneration system at Herbert Smith Freehills in Australia is to include an extra component in order to encourage top players to stay on at the law firm.

12 December 2013

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The practice has told Lawyers Weekly that the extra ingredient, which applies after a certain level on the lockstep, is intended to keep the best performers. A statement from the firm said that the system 'reflects the nature of partner remuneration systems in the Australian market'. The new arrangements come into place for the financial year 2014/15. Source: Lawyers Weekly