The Lawyer (Asia) has reported in its latest editorial…
Beijing-headquartered Jun He has undergone the most significant remuneration structure shakeup since its establishment in 1989, as the firm recently started a three-year trial run of a new modified lockstep.
Slaughter and May’s Chinese best friend previously operated on an almost entirely merit-based remuneration system since it was founded in 1989. The Lawyer can reveal that the firm has recently started a three-year pilot scheme, which sees 75 per cent of all the equity partners moving on to a newly created modified lockstep system for their profit distributions.
Chinese firms’ greater focus on rejigging their management and remuneration system to close the gap between them and their international counterparts is a main characteristic of the local profession in recent years. It is equally revolutionary as the more obvious trend of Chinese firms forging links with global firms.
