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
Sonnenschein, Nath & Rosenthal announced on Tuesday a plan to move away from lockstep compensation for associates, and in its decision — and others — we are beginning to see a new consensus emerge on how exactly firms believe a merit-based system should be structured.
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
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