Reed Smith Joins the Move Away from Lockstep
Citing client concerns with billing practices, Reed Smith announced a new compensation plan today. The new plan, which the company…
merit-based pay
Squire Sanders Moving from Lockstep
Squire Sanders has joined the march away from lockstep compensation, and will implement a merit based pay system starting next…
Morgan Lewis Cancels 2010 Summer Associate Program
Morgan Lewis has announced a series of steps designed to save cash, including the complete cancellation of its 2010 Summer…
Sonnenschein to Slash Associate Pay [Update]
Sonnenschein Nath & Rosenthal plans to cut associate salaries, beginning June 1st. First year salaries, previously a Biglaw standard $160,000,…
Nixon Peabody Slashes Salaries
Nixon Peabody, which laid off 20 attorneys and 36 staff in February, is now cutting salaries. All associates, including incoming…
More Firms Adopting Merit-Based Pay for Associates
Many law firms are using the economic meltdown as an excuse to end seniority-based pay for associates, adopting "merit-based" systems…