The scheme, which is actually available to all partners, will allow participants to work a minimum four-day week, or to take up to a maximum of 52 days holiday each year.

They will be remunerated on a pro rata basis and will be able to receive a minimum of 80% standard profit share. Under the terms of the firm’s lockstep partners enter the equity on 20 points and gain two a year over 15 years until they accumulate a maximum of 50 points. The part-time route will see total points allocation capped at 30 points.

The aim is to encourage more women to join the firm’s partnership over time and to improve the overall balance of females at the top – currently less than 20% of A&O’s partnership is made up of the fairer sex.

The scheme launches in May so it will be interesting to see what the take-up is… Particularly with the announcement coming less than a year after the firm dumped nearly 250 employees including 47 partners.