Bingham McCutchen set to adopt 'merit lockstep' system
Bingham McCutchen is set to move to a 'merit lockstep' system that will keep base pay on lockstep but introduce a merit component into bonuses, reports The Recorder. Bonuses at Bingham were previously based solely on meeting a billable hours target. Although billable hours will continue to play a significant role in determining bonuses at the US firm, they will also be based on less tangible factors such as teamwork and the overall market rates for bonuses.
Bingham McCutchen is set to move to a ‘merit lockstep’ system that will keep base pay on lockstep but introduce a merit component into bonuses, reports The Recorder.
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651