SJ Berwin to push cross-selling after review of partner pay system
SJ Berwin has opted against plans to impose a merit-based system for partner pay, with the firm instead set to incorporate softer criteria such as cross-selling into its current system. The changes to the firm's remuneration system, which will go to a partner vote later this month, were presented at a May partnership conference by new management duo Stephen Kon and Rob Day - senior and managing partner respectively.
July 02, 2012 at 08:43 AM
2 minute read
SJ Berwin has opted against plans to impose a merit-based system for partner pay, with the firm instead set to incorporate softer criteria such as cross-selling into its current system.
The changes to the firm's remuneration system, which will go to a partner vote later this month, were presented at a May partnership conference by new management duo Stephen Kon and Rob Day – senior and managing partner respectively.
The move is intended to improve client-sharing across the firm, with partners informed that they would be given a grace period of two years before the new criteria would be fully implemented.
The firm, which currently operates a modified lockstep system, will also assess partners according to how many key clients they work with.
Earlier this year SJ Berwin put together a partner consultation group to examine the possibility of a merit-based system, with rewarding junior star performers identified as a key issue to be addressed.
The firm introduced merit-based pay for its associates at the start of the new financial year, with salaries now based on the firm's longstanding 'Insight' associate development programme, which sees performance assessed every two years after qualification
SJ Berwin is among a roster of law firms including Linklaters, Freshfields Bruckhaus Deringer, Pinsent Masons and Norton Rose to have launched reviews of partner pay in recent months.
Linklaters came to a decision not to make any changes to its lockstep after its annual partnership meeting in April, although the magic circle firm is set to push ahead with plans to expand its salaried partner ranks.
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