Thanks to the anonymous Deacons/Norton Rose spy who sent us the following tip last night:
After freezing our salaries last year, Norton Rose has decided to thaw them. We all got an email from Don Boyd this afternoon saying there had been a review and the outcome “will result in salary increases for most of our lawyers.” The increase will be back-dated to Jan 1. I will be checking my payslip very carefull on Monday.
Uh oh! Not the now tried-and-true use of opaque language like “most of our lawyers”! Does this mean 51% will get increases in pay? Who will miss out? Sounds to us like Don ‘Dubya’ Boyd might have another major gaffe on his hands.
This thaw, if true, comes after similar moves by Freehills and Minter Ellison (who promised staff a thorough ‘review’, whatever that means) last year. By our count, this leaves Mallesons, AAR, Clutz and Blake Dawson as the major firms remaining to act on frozen pay.
Do you think the arrival of a major Magic Circle competitor, who is brazenly in the hunt for good legal talent, should prompt major firms with frozen pay to do something to encourage top-performers to stay?
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Has anyone given any serious consideration to why A&O is here? Home must be pretty bad, that is, nil growth potential. A firm that cannot grow, dies slowly like Clutzy. Good to see we are finally being recognised on the International stage, which re-enforces my decision not to waste my time in the UK. Let them came to you, I say. Send your CV to A&O with a wish list. Furthermore, the revenue figures being stated by the top firm is overstated and big is not beautiful. From a reliable source measuring 50 firms, identified that there is no correlation between profitability and size. Hence, bigger is not better – its a negative correlation. I have the magic numbers, however, it is very costly. A tip from Dex – understand the Invisible Balance Sheet.
What?
Dexda stick to murdering undesirables.
Like Clutz Partners?
Slow clap.
And the win to M For.
May now have to extend the field of undersirables to include deadwoods. Have fun on the open market and don’t beg for work. We Partners hate that.