In January, Allen & Overy announced the introduction of formal arrangements for full equity partners to work part-time. Part-time partnership will be open to partners in all of the firm’s offices. It is designed to allow men and women to adjust the amount of time they work, while continuing to progress as an equity partner, for a maximum period of eight years.
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Partners who opt into the scheme will be able to work a four-day week, or will be entitled to a maximum 52 days extra leave a year. Remuneration will be paid pro rata to the amount of time worked. The firm says that the exact structure of each individual’s arrangements will be agreed with the relevant practice group or office. Unavoidably, the firm also says that client needs will be taken into consideration.
“The introduction of part-time equity partnership provides greater career flexibility and removes some of the existing obstacles to promotion faced in particular by women,” commented A&O’s senior partner, David Morley. “We don’t pretend this is a cure-all but it’s a serious attempt to take positive steps and to send a strong signal of our intent to retain talent in our business.”
According to Simon Black, the managing partner of Allen & Overy in Shanghai, “there are clearly challenges to the implementation of flexible working practices in professional service firms, particularly in smaller offices”. However he points out that the firm’s China offices promoted two female lawyers to partnership in 2009, adding “we believe our track record, as well as this scheme, will encourage more female lawyers to stay with the firm”.
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