Howrey's recent announcement that it would discard lockstep compensation for its associates in favor of merit-based pay garnered lots of attention over the summer. But to lawyers at Jones Day, the giant 2,200-lawyer law firm, it's nothing new. "We've always been a one-guy-at-a-time, merit-based firm," says Joe Sims, a Jones Day litigator since 1978. And although some newcomers are skeptical of the Jones Day system, one attorney says merit-based pay encourages him "to do good work."
Howrey Following in Jones Day's Footsteps by Switching to Merit-Based Pay
October 19, 2007