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Taylor Wessing thanks lawyers and staff with Covid bonuses and firm-wide holiday

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Special payment amounts to 5% of salary

Taylor Wessing’s London office

Taylor Wessing will award its lawyers and staff bonuses in recognition of their “extraordinary collective effort” during the past year.

The bonus, which amounts to 5% of salary, will be in addition to the firm’s usual annual performance-related bonuses and will be paid to everyone employed by the firm, in the practices and in business services, on both permanent and fixed-term contracts, according to a statement issued by Taylor Wessing on Monday. The additional bonuses will be paid out in July 2021.

The firm said it will also “significantly increase” its annual bonus pot to make discretionary awards reflecting individual contribution during the year and to recognise high performers.

The 2021 Legal Cheek Firms Most List

As an additional measure, the firm announced it will give its people an extra day of annual leave, dubbed ‘Taylor Wessing holiday’, on Friday 28 May. The Spring Bank Holiday falls on Monday 31 May, and so this will create a four-day weekend for everyone in the firm.

Taylor Wessing managing partner, Shane Gleghorn, said: “Our people’s support for the business and for one another has been truly exceptional over the past year and these decisions with respect to recognition are driven by a desire to recognise the contribution, commitment and hard work of the extraordinary people in our firm.”

Earlier this month, we reported that Osborne Clarke will be rewarding its employees with a 5% share in profits as well as implementing a firm-wide Bank Holiday this year and an extra day’s holiday in the next financial year.

Other firms to have announced cash bonuses amounting to 5% include Allen & Overy, Bird & Bird, Clifford Chance, Linklaters, Herbert Smith Freehills, and Hogan Lovells.

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21 Comments

Kirkland 5PQE PE Behemoth

Pure white noise this.

Back in the proper corporate world of PE/Lev Fin. power brokers I just released some fun coupons on a Gulfstream G650 💸 Forget about the City, billion-dollar deal magnates like me own the skies now. This is where the real top whack signings take place.

If anyone needs me I’ll pulling up in Monte-Carlo outside the Hôtel de Paris for a pit-stop power lunch with Prince Albert to compare bank balances 👑

(6)(30)

Anon

As a 5 PQE you just spent 6.5x Higgins’ pre-tax salary on a jet? Seems legit.

(8)(2)

💹🤑

these posts get wackier by the hour

(7)(0)

BCLP associate

Complete silence from our management team on Covid bonuses. If they don’t want to give one (fair enough, I don’t feel entitled to one) they could at least have the good manners to say so.

(31)(0)

genuine heart

any bonus is better than no bonus, well done to the firms that try their best

(21)(0)

Red Tory

These firms are giving back far less than what they took out of their employees.

One extra day of holiday won’t make up for the late nights and weekend working.

5% of profits or salary is not proportionate to the extra hours billed.

Embarrassing.

(23)(3)

The OC Diaries (Bristol)

17 May 2021
In between billing one of my few daily units for an utterly marvellous mid-market telecoms co and taking part in one of the truly legendary OC charity word-searches, I was called by one of my favourite partners and asked to research a SPA for one of our new PE clients that is active in the leisure industry. Apparently we do something called ‘Private Equity’ in our London office now and by Private Equity I don’t mean arranging the affairs of one the great families of Clifton, Bristol: we’ll leave that gaudy ‘old money’ work to those funny fish people, Burges Salmon, as at OC we’re quite modern and rather cutting edge and, after all, there are no D&I points to score with Old Money.

Anyway, I spent a bit of time looking at these SPAs over lunch, whilst on Zoom to some of my colleagues to discuss how we could further raise the wonderful profile of OC on trashy webzines, like Roll on Friday and Legal Cheek. Instead, we settled on holding an inter-firm smoothy-making Wednesday to further represent our commitment to diversity and inclusion, at the request of that loooovely lady, I mean person, in the recruitment team.

IMAGINE my HORROR when I got round to returning one of the several missed calls from the partner, at around 3pm, and told him one of my uni girls had pulled through and found me a 25% off for groups of 6 coupon for Champneys in Tring. It turns out he meant something quite different but Major Brownie Points accrued(!!!) as he said he’d take me to the spa anyway once the divorce is finalised. I WILL make partner by 6 PQE hehehe.

(44)(7)

Bantz Quality Control, Pty. Ltd.

Outstanding. 9/10.

(9)(2)

Sabre

Thoughts on whether £65k is a good NQ salary for a small City firm?

(8)(3)

Bob

Bang average for lower end of mid market.

(9)(0)

Anon

Depends which small city it’s in really…

(5)(1)

Anonymagic

Yes, it is. If you’re pulling reasonable hours (i.e. consistently finishing around or before 6.30), then £65k is a “good” NQ City salary.

(15)(2)

Anon

Depends on your ambitions and what areas you’re interested in. It’s on the lower end but it’s better than nothing. You don’t want to find yourself stuck paralegalling until your mid-20s wishing that you took the offer when you had the chance. At the same time, you don’t want to train at a third-rate firm and basically be stuck there your entire career because nobody else will hire you upon qualification.

Just ask yourself whether you think you can get an offer from a better firm.

(7)(1)

Anon

Depends which small city its in really…

(2)(0)

Anonymagic

“City” with a capital “c”, refers to “City of London”.

(9)(0)

Anon

Im sure it was just Banter with a capital “B”

(2)(2)

Thoughts

Really depends. If it’s a good city medium small firm whereby lateral hires include ex magic circle and city firms and has good reputation on legal 500, should hopefully get good qualification and either be comfortable there as NQ or move up.

Btw the qualification is really dependent on how strong you as a candidate. I’ve seen people qualify from in-house at a railway company into US firm.

(3)(0)

B-Sustainable

The trees planted in our name by Burges Salmon, which I metioned in an earlier article, should be starting to sprout soon. Will be reaping mega rewards any day now.

(7)(0)

d

Bird & Bird did most certainly not awards 5% covid bonus. On a mid-senior associate salary in London, the bonus is a fraction of 1%

(2)(0)

Anon

Spend that fraction on an english writing course

(6)(2)

Anonymous

Taylor Wessing? Neat. My son’s IT tutor trained there.

(4)(3)

Comments are closed.

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