The management team at Washington, D.C.-based Howrey is doing something that almost no other Am Law 200 firm has done: They're revamping the tried-and-true method of paying associates. Howrey is taking a sledgehammer to the established lockstep system, which guarantees associates salary increases every year. Instead, the firm is implementing a more competitive model: Raises, when they're granted, will be based exclusively on merit. Howrey's clients may warm to the concept, but will the firm's associates?
The American Lawyer
August 1, 2008