How far away from pure lockstep can a law firm move while still insisting it is a lockstep firm? That seems to be the question magic circle firms are asking themselves at the moment, as it emerges that all bar Slaughter and May are in the process of tinkering with their partner remuneration systems, or have already done so in the last year or so.
Linklaters used its April partner conference as a sounding board for a forthcoming review of its lockstep model, which according to partners will look at areas including potentially bringing in the flexibility to better reward high-performing junior equity partners.
