Firms may save money by moving to merit-based pay

02/19/2010 | ABAJournal.com

Lockstep compensation for associates has been replaced with merit-based pay at nearly 30 big law firms, and the early indicators suggest firms that made the switch are saving money. "Coming after a year when many firms conducted layoffs disguised as performance reviews, trimmed salaries, and hacked bonuses, these new systems appear to be one more way for firms to cut associate pay," according to an analysis of the practice in American Lawyer.

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