Mishcon de Reya to roll out new ‘bonus boost’ for associates

City law firm Mishcon de Reya is offering its staff a ‘bonus boost’ for working additional hours to remain competitive in the legal pay race, City AM understands. 

The law firm has added a new ‘bonus boost’ to its pay structure, which will take effect in July 2027, for lawyers who record hours significantly above their billable-hour target.  

But the firm is not changing its billable hour expectation. 

City AM understands that all associates, managing associates and of counsel lawyers – experienced lawyers who fall between associates and equity partners – will be awarded for financial contributions and wider contributions, including the use of AI. 

The firm, which is known for its litigation and dispute resolution in the City, is focused on attracting talented lawyers across the sector. 

One of its main competitors, the US giant Quinn Emanuel, pays its most junior lawyers (NQs) £180,000, while those at Mishcon earn £100,000. 

Mishcon generated £330m in revenue for the 2024/25 financial year, up 9 per cent from the previous year. During this same period, the firm’s profits rose 14 per cent to £110m. 

More to follow.