Baker Botts associates are learning this week about potential changes to their pay and bonus packages that become effective Jan. 1, 2011, says Maria Boyce, partner-in-charge of the firm’s Houston office. The firm is moving associates from lockstep promotions and pay to a merit-based system, she says
WilmerHale is unveiling a new compensation system designed to break away from lockstep, encourage alternative career paths and shift a larger chunk of lawyers’ pay from their base salary to their bonus, according to firm higher-ups. The crux of the change involves dividing nonpartners into several tiers and linking each of those tiers to a set base salary
Companies are successfully pushing their outside counsel to abandon the billable hour, a new survey indicates. The survey of 587 general counsel and chief legal officers found that 39 percent paid law firms more money this year under alternative fee arrangements than they did in 2008
Sutherland will shift from lockstep associate compensation to a performance-based system in January. The firm’s roughly 175 associates will be grouped into three tiers, with advancement and pay increases pegged to their mastery of various skills. “The driving force in the change is to be able to communicate to the client that an associate has a certain level of skills, and that’s what you’re paying for,” said the firm’s professional development director
There’s a growing consensus that third-year law students are ready to handle felony criminal matters, with proper supervision. This week, Ohio became the 42nd state to allow 3Ls to handle more than misdemeanors after a long campaign led by a non-profit that partners with several law schools