On behalf of the partners, I would like to thank all of you for your efforts and commitment over the last financial year - these have been invaluable to our success.
We have now finalized the discretionary Standard Bonus for the Bangkok office for the FY14 and the amount of your bonus will be viewable via My Self Service on 19 July. The bonus will be paid with your July payroll on 23 July. Given the strong (if mixed) year we had, we have increased the standard bonus by about 5% for FY14 compared to FY13.
As in previous years, your bonus allocation is basically determined by your appraisal rating as a result of the moderated annual appraisal process (so is largely determined by your performance based on the appraisal criteria relating to clients, know how, financial management, partnership (etc.)) as well as your busyness and other economic indicators (for example, your salary multiplier). We also take into account the extent to which lawyers have made a particular contribution to the office and firm (for example, by business generation, showing versatility (by seconding or transferring to other offices, groups or clients) or by consistently exceeding expectations through out the year).
Although we will continue to look at the same criteria in looking at bonuses for FY15, one change we will be making for next year is the introduction of a minimum chargeable busyness threshold (of 85%) for the payment of associate bonuses for FY15 so as to be in line with practise in other offices. There will be some flexibility on this so , for example, if lawyers are less than 85% busy for the year due to specific reasons, for example, maternity leave or involvement in particular internal chargeable work, this will be taken into account. However, in the absence of these types of factors, you will need to have been at least 85% busy to be eligible for a discretionary bonus.
You should also please note that (i) the expectation is that lawyers will remain engaged in business development and know how activities (which is important for appraisal ratings) as well as meeting the minimum trigger for bonus eligibility and (ii) over recording is obviously not acceptable.
Note that this change will not have an impact on the 13th month payment in FY15.
Once again, thank you for your hard work over the last year.
This email should not be circulated outside of A&O.
On behalf of the partners, I would like to thank all of you for your efforts and commitment over the last financial year - these have been invaluable to our success.
We have now finalized the discretionary Standard Bonus for the Bangkok office for the FY14 and the amount of your bonus will be viewable via My Self Service on 19 July. The bonus will be paid with your July payroll on 23 July. Given the strong (if mixed) year we had, we have increased the standard bonus by about 5% for FY14 compared to FY13.
As in previous years, your bonus allocation is basically determined by your appraisal rating as a result of the moderated annual appraisal process (so is largely determined by your performance based on the appraisal criteria relating to clients, know how, financial management, partnership (etc.)) as well as your busyness and other economic indicators (for example, your salary multiplier). We also take into account the extent to which lawyers have made a particular contribution to the office and firm (for example, by business generation, showing versatility (by seconding or transferring to other offices, groups or clients) or by consistently exceeding expectations through out the year).
Although we will continue to look at the same criteria in looking at bonuses for FY15, one change we will be making for next year is the introduction of a minimum chargeable busyness threshold (of 85%) for the payment of associate bonuses for FY15 so as to be in line with practise in other offices. There will be some flexibility on this so , for example, if lawyers are less than 85% busy for the year due to specific reasons, for example, maternity leave or involvement in particular internal chargeable work, this will be taken into account. However, in the absence of these types of factors, you will need to have been at least 85% busy to be eligible for a discretionary bonus.
You should also please note that (i) the expectation is that lawyers will remain engaged in business development and know how activities (which is important for appraisal ratings) as well as meeting the minimum trigger for bonus eligibility and (ii) over recording is obviously not acceptable.
Note that this change will not have an impact on the 13th month payment in FY15.
Once again, thank you for your hard work over the last year.
This email should not be circulated outside of A&O.
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