legalweeklaw.com August 2011:
"Following the UK’s April 2010/11 financial year end, UK-headquartered law firms finalised and paid bonuses to their associates in the annual tradition.
In spite of financial year 2009/10 being considered poor, with revenue and profit for most firms falling, according to PricewaterhouseCoopers annual law firms’ survey 2010, bonus payments, as a percentage of associate salaries, actually went up significantly. So this seeming paradox is explained in the context of generally lower salaries (or smaller increases in base salaries) being paid to associates who have been rewarded instead through higher bonus payments.
This briefing from legal employment experts Edwards Gibson outlines the past and present bonus situation and predicts future trends."
Read the article here