Morgan Lewis & Bockius has chosen to retain the lockstep pay model for its associates, sixteen months after announcing plans to move to a merit-based system, reports The Am Law Daily. Firm chairman Francis Milone last week informed associates that they will receive base salaries in 2011 equal to the market rate for their class year. The firm will also maintain its bonus pool, as those payments have always been merit-based.
November 10, 2010 at 07:22 AM
1 minute read
The original version of this story was published on Legalweek
Morgan Lewis & Bockius has chosen to retain the lockstep pay model for its associates, sixteen months after announcing plans to move to a merit-based system, reports The Am Law Daily.
Firm chairman Francis Milone last week informed associates that they will receive base salaries in 2011 equal to the market rate for their class year. The firm will also maintain its bonus pool, as those payments have always been merit-based.
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