Clifford Chance implements lockstep changes to compete with US firms
Clifford Chance has announced plans to update is remuneration system, following a vote by firm partnership. The changes are designed to keep the firm competitive with US rivals, and brings more flexibility to compensation for top billers.
Although the firm has not revealed the final terms of its new changes, the firm is expected to offer 130-point deals in conjunction with further bonuses, or 150-point deals to top performers. These new changes expand upon CC’s previous remuneration overhaul in 2015, in which the firm expanded its range for equity points.