Milbank revamps lockstep pay structure for London associates
Milbank Tweed Hadley & McCloy has become one of the first leading New York firms to move away from pure associate lockstep to a pay structure that also takes into account individual performance. The firm has introduced a three-tier banding system in London that will run alongside its lockstep-based pay structure. The new structure, introduced in January 2010, will only apply in the City, with other offices maintaining pay based on post-qualification experience.
Milbank Tweed Hadley & McCloy has become one of the first leading New York firms to move away from pure associate lockstep to a pay structure that also takes into account individual performance.
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