Home

Morgan Lewis Will Stay With Lockstep
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Almost a year and a half after announcing plans to move away from lockstep compensation and implement a merit-based pay system for its associates, Morgan, Lewis & Bockius has decided to keep things the same.

Associated were informed via videoconference by firm chairman Francis Milone they will receive base salaries in 2011 equal to the prevailing market rate for their class year. In addition, the firm will maintain its bonus pool, payments which have always been merit-based.

In the article at amlawdaily.com, Charles Engros, Jr., Morgan Lewis managing partner for personnel was quoted as saying: “In talking to associates and clients and partners, we concluded that it really was going to be potentially disruptive and not really help us achieve what we wanted to achieve any more than making some tweaks…to our current system.”

  
What
Where


Associates were confused about whether they would be in direct competition for advancement. As well, there were concerns that peer cooperation could be compromised, per Engros. He also noted that clients did not have a preference for either method of compensation.

It’s likely that maintaining the lockstep method is reassuring for some associates.

In addition to the lockstep announcement, the firm said it is creating a new “career track” for some lawyers which will enable the firm to retain associates that began on the partner track but will not make partner. Engros said the firm hasn’t yet determined how large the class of “career track” associates will be.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Litigation Trial Attorney with 3-5 years of pleading experience

USA-WA-Seattle

Seattle office of our client seeks litigation trial attorney with 3-5 years of experience. The candi...

Apply Now

Corporate Attorney with mergers and acquisitions experience

USA-CA-Los Angeles

Los Angeles office is seeking a corporate attorney with 1-6 years of M&A, corporate finance, securit...

Apply Now

Estate Planning Attorney with 6+ years of experience

USA-CA-Los Angeles

Los Angeles office is seeking an experienced estate planning attorney with 6+ years of experience. C...

Apply Now

Employment law and Litigation Associate Attorney

USA-TX-Spring

Spring office of our client seeks associate attorney with 2-5 years of employment law and litigation...

Apply Now

RELEVANT JOBS

Corporate / Commercial Attorney | Lebanon, NH

USA-NH-Lebanon

Downs Rachlin Martin PLLC seeks an experienced corporate / commercial attorney to join its Lebanon o...

Apply now

Business Law Junior Associate | Burlington, VT

USA-VT-Burlington

Downs Rachlin Martin seeks associate attorney with 1-3 years of experience to join its Commercial an...

Apply now

Business Law Associate | Burlington

USA-VT-Burlington

Downs Rachlin Martin is seeking an attorney with 4 to 8 years of experience to join its very busy pr...

Apply now

Litigation Associate

USA-NY-New York City

Midtown Manhattan litigation boutique with diverse civil litigation practice seeking associate with ...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top