Clayton Utz has brought forward its remuneration review, giving lawyers the opportunity for a raise for the first time in a year. Early in 2009, Clutz made the decision to freeze pay for all staff in anticipation of a drop in demand for legal services in FY10. That decision was reviewed in November but the salary freeze was kept in place for all but a select few lawyers. Now all staff will have a remuneration review at the beginning of April.
“The legal remuneration review process has been moved forward to 1 April, from 1 July,” a Clutz spokesman said. “This will mean that all performance reviews for lawyers will be brought forward and remuneration set in an accelerated fashion. The shared services remuneration review is occurring as usual on 1 April.”
The decision indicates a sharp turnaround in performance for the firm, whose revenue for November dropped A$12m year-on-year. This drop in revenue resulted in the salary freeze remaining in place for most Clayton Utz lawyers, although 83 “consistently high performers” received a bonus in January.
Clayton Utz’s move comes almost three months after Freehills made its decision to reintroduce remuneration reviews.
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