Berwin Leighton Paisner bumps up performance component of pay
Berwin Leighton Paisner has announced changes to the way that it remunerates equity partners, putting greater emphasis on performance when distributing the firm’s profits.
Under the current pay structure, 20 per cent of equity partners’ pay is dependent upon performance, with the remaining 80 per cent determined according to a lockstep system. Under the new system, which takes effect this financial year, pay will be 25 per cent performance and 75 per cent lockstep.
The firm has also amended rules used to asses performance: “We reviewed the structure last year,” said BLP managing partner Neville Eisenberg. “There’s always been criteria to look at business development and the more intangible side of things, but now we’ve added a bit more emphasis to that and introduced a bit more subjectivity to the review of partner performance.
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