CMS Cameron McKenna doubles bonus pool
CMS Cameron McKenna has doubled the size of its bonus pool, expanding it from 2.5 per cent of revenue to 5 per cent, following reform of the firm’s partnership model.
Under the previous model, newly promoted partners spent three years in the salaried partner rank, and were ineligible for bonuses. Since May the firm has rid itself of the salaried partner rank, moving 65 salaried partners directly into a system of fixed-share and equity arrangements.
Senior partner Dick Tyler said: “All of our partners are now eligible to participate in the bonus pool. Previously only gateway [fixed-share] and full-equity partners were entitled to participate, not our office [salaried] partners, who we had separate arrangements for.”