Monday, April 26, 2010;
Many large law firms have changed the way associates advance and get paid. Here is a sample of what others are doing.
Drinker Biddle May 2009. Announced a six-month training program for incoming associates, who will be billed out at lower rates.
Orrick, Herrington & Sutcliffe July 2009. Introduced a plan for three performance-based tiers for 2010. Entry-level salaries remain at market rates and increases to associate compensation are merit-based.
DLA Piper December 2009. Established three competency-based levels for associates; withholds a portion of compensation until end-of-year reviews. A plan to lower base salaries was later reversed.
Sources: Wall Street Journal, American Lawyer Media, Above the Law