Allen & Overy joins magic circle firms offering ‘thank you’ bonus
Allen & Overy has become the latest magic circle law firm to offer non-partners a ‘thank you’ bonus for their work during the coronavirus pandemic.
Allen & Overy will give staff a one-off fee bonus in April, equal to five per cent of their annual salary.
The Covid-19-related bonus will be in addition to the usual performance bonus and salary review process that will continue as planned.
The bonus will apply to the majority of people and offices in the law firm’s global network, which the exception of a small number of individuals, where the firm said alternative bonus arrangements had been made.
A spokesperson for A&O said: “The bonus is in recognition of their hard work and contributions in very challenging circumstance over the last 12 months.”
Allen & Overy joins rivals Linklaters and Clifford Chance in offering an addition five per cent of salary as a thank you to non-partners.
London-based law firms also reportedly planning to give staff a coronavirus-related bonus include Herbert Smith Freehills, Simmons & Simmons and Bevan Brittan.