Abandoning lockstep pay for associates has been all the rage among U.S. firms that consider themselves trendsetters. Some of the firms that have broken from lockstep and moved toward merit-based pay over the past year have frozen associate salaries as an initial step in the process.
But at Linklaters, considered something of a bellwether for the London market, the firm has decided to stick with lockstep and avoid any pay freeze for associates, according to the U.K.-based publication Legal Week. Linklaters never froze salaries for its associates, but it did cut the percentage-raise lawyers receive as they move up the ranks of the firm, Legal Week says.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]