Drinker Biddle is moving to a merit based pay system, becoming the latest in a string of major law firms to abandon lockstep compensation. Under the new plan associates in…
I think it’s time for some new terminology. Lockstep compensation referred in the past to associates moving up in pay scale in “lockstep” with their contemporaries. All associates from the…
In a firm wide email sent out yesterday, Kelley Drye managed to fold what would typically be three different stories into one. Over the next two years, Kelley Drye will…
Like many firms before it, Seyfarth Shaw is abandoning lockstep starting in 2011. Details haven’t been released, not even to the associates who must now spend next year trying to…
There are two unconnected stories coming out of Sonnenschein today. The first is that the firm has made staff cuts 14 days before Christmas. The firm has confirmed the staff…
WilmerHale is abandoning lockstep compensation and adopting a merit based three tiered system that should look familiar to anyone that’s read these pages over the past few months. The new…
DLA Piperhas joined the lockstep march away from lockstep compensation. In a memo today, the firm outlined its new associate compensation package. In broad terms, it looks familiar. The overall…
Orrick presented its new compensation plan to its associates today, and there was much rejoicing. Unlike many firms that cut base salaries with discretionary bonuses, Orrick kept the $160k starting…
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