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Clifford Chance latest law firm to dish out COVID bonuses to all lawyers and staff

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Follows similar moves made by HSF, Simmons and Bevan Brittan

Clifford Chance joins a number of law firms in handing lawyers and staff bonuses in recognition of their efforts throughout the coronavirus pandemic.

The magic circle firm is awarding all of its staff globally a one-off bonus amounting to 5% of their salary. The sum is in addition to other salary and bonus reviews.

Matthew Layton, global managing partner at Clifford Chance, said: “Over an extraordinary year, and in the face of sometimes immense personal challenges, our people have consistently gone the extra mile to support our clients and to support each other. I could not be prouder of our team here at Clifford Chance.”

Earlier this week, Herbert Smith Freehills also announced that it would provide an additional 5% bonus to all staff. CEO Justin D’Agostino said the special payment to every employee across its global network was in recognition of their “dedication and hard work” in the face of “the tremendous disruption and challenges experienced in the last year”.

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Simmons & Simmons announced yesterday it is awarding staff of all levels with a £1,000 one-off bonus in recognition of “the contribution that everyone has made to supporting the firm and its clients throughout these difficult times”. The bonus is in addition to the firm’s existing bonuses and remuneration structures.

Meanwhile, Bevan Brittan announced pay rises and ‘thank you’ bonuses for all staff last week. The firm said they’ll receive a 3% pay rise this month, with an additional 3% bonus to be applied to the last six months of pay. “Both the additional increase and the thank you bonus recognise and reward our staff for their professionalism, resilience and how they have been able to continue to provide excellent support for all our clients in the most challenging of circumstances,” said managing partner Duncan Weir.

City law firm financials have held up remarkably well in the face of the economic downturn brought by the coronavirus. Many have posted upbeat financial results in recent months and have begun to reverse the stringent measures introduced at the start of lockdown. It’s likely we’ll be hearing more law firms rewarding their staff with one-off sums of money, thanking them for their work, in the coming weeks.

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10 Comments

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5%…? rookie numbers

(8)(5)

Bevan britany spears

What is bevan britan? Sounds like a waste disposal center

(28)(6)

slim stack energy

only 5%?

(6)(1)

Anon

£5000 for a £100K salary should cover a months rent

(10)(6)

HMRC

It’s really about £2500 or even less that you’ll receive after tax, NI, pension, student loan, taxable benefits all get deducted

(19)(2)

just another push

Student loan? Its an MC firm, obviously mummy and daddy are behind 80-90% of those guys

(12)(23)

Anon

Why did the millionaire partners not pay these bonuses out at the end of last year like the US firms did? Or is this the “2021” Covid bonus, the one at Christmas having been the 2020 one?

(10)(3)

MCSuperstar

Wondering whether other MC firms will follow…

(1)(0)

MCer

Word is all the MC are doing well (albeit perhaps not as incredibly well as the top US firms) so it will be interesting to see if we’ve all been in it together this past year or whether the partners will trouser all the upside. Some might say that it is to be expected that the partners, as business owners, share all the upside and it is unrealistic to think otherwise. To that I’d say that they put this in play when they pushed the mantra early on of ‘we’re all in it together, lean in as one team’ and have squeezed an awful lot out of lawyers and business teams this year.

(3)(0)

Jon

The US firms in London are doing much better at this. COVID bonuses are closer to £20k with work from home allowances to spend on anything plus pay rises and regular bonuses on top this year…

(0)(0)

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