TMT leader dumps assistant 'lockstep' as firm moves to merit pay scale
May 29, 2002 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
City TMT specialist Olswang has swept aside its assistant ‘lockstep’ – becoming the first major London firm to ditch the traditional UK model of annual salary bands for junior lawyers.
The radical move, implemented from 1 May, has handed Olswang’s management near total freedom to set assistant pay rather than tying the firm to fixed rates based on seniority. Newly qualified salaries for 2001-02 have been fixed at £46,000.
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