Eversheds shakes up bonus scheme, faces backlash from lawyers
Eversheds Sutherland has made waves within its legacy branch with a restructuring of its bonus scheme.
While the scheme will remain a mixture of base pay and bonus payments, heavier rewards will now be given through discretionary bonuses, rather than chargeable hours, according to a spokesperson for the firm.
Eversheds fee-earners have reported that the new standard for bonuses will be to earn 5 percent for every 10 percent brought in over target, halving the earnings of the lawyers. Though the firm has denied these figures, they have not offered alternative figures.
Eversheds co-CEO Lee Ranson commented on the success of the firm in client relations since its merger a year ago, stating that the success “exceeded all [their] expectiations.”