Unleashing the Power of Compensation: Transform Your Law Firm’s Pay Structure into a Strategic Asset
Today, JDJournal unveils a powerful message: your law firm’s compensation system isn’t just a cost center—it can be a strategic…
lockstep compensation
The Appeal of Lockstep Compensation
Predictability and Stability The lockstep model ensures a clear and predictable salary progression. This predictability is highly attractive to lawyers…
Davis Polk Adopts Modified Lockstep Partner Pay Model
One of the most respected firms in the nation, Davis Polk & Wardwell is abandoning the strict lockstep compensation system,…
Raises (sort of) and Bonuses at Pillsbury
Let's start with the easy part. Associates in the New York office of Pillsbury are having their salaries restored to…
Vinson & Elkins Issues Bonuses and Raises
Vinson & Elkins associates are having their salaries thawed out and returned to where they would have been without the…
Cooley Godward Salary Thaw, and is there a Market Rate Anymore?
Cooley Godward has lifted last year's salary freeze, sort of. First years will continue to make $160k, which puts them…
Goodwin Procter Pays Bonuses, Thaws Salaries
Goodwin Procter is paying 2009 bonuses to its associates who hit their billable hour goal of 1850 hours, maybe. Bonuses…
Dickstein Shapiro Abandoning Lockstep
The lockstep march away from lockstep compensation continues unabated as 2010 gets into full swing. The latest firm to join…
Salary Cuts at Kaye Scholer
Kaye Scholer is cutting first year associate salaries to $145k, but unlike many other firms they aren't doing it under…
Holland & Knight is the Next to Abandon Lockstep
I think it's time for some new terminology. Lockstep compensation referred in the past to associates moving up in pay…
Kelley Drye Trifecta – Abandon Lockstep, Freeze Salaries, Pay Bonuses
In a firm wide email sent out yesterday, Kelley Drye managed to fold what would typically be three different stories…
Seyfarth Shaw Abandons Lockstep
Like many firms before it, Seyfarth Shaw is abandoning lockstep starting in 2011. Details haven't been released, not even to…