Davis Polk & Wardwell is moving to a modified lockstep system for partner compensation, the firm confirmed Thursday.
“After a thorough and comprehensive assessment of our compensation system, Davis Polk has determined to implement a modified lockstep system that recognizes and rewards the entirety of a partner’s contributions on behalf of clients and in support of firm priorities, including associate development, mentorship, and diversity and inclusion initiatives. We are committed to investing in practices and lawyers that contribute to the strategic growth of the firm and to our strong, deeply collaborative, exceptional culture,” the firm said in an emailed statement.
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