Friday, June 29, 2007
Merit Pay for Law Firm Associates
WSJ.COM, via Brian Leiter, reports that the international law firm of Howrey LLP is ditching lockstep compensation for its associates in favor of merit pay:
While associates will start at the market rate, their salary will them be determined by their perfomance rather than seniority, says the article. Stars will be paid higher than market; slackers could make less. One factor in an associate’s performance will be hours billed, . . . but it will be one factor of several.
rb
https://lawprofessors.typepad.com/laborprof_blog/2007/06/merit-pay-for-l.html
«One factor in an associate’s performance will be hours billed, . . . but it will be one factor of several» Typical lawyerly obfuscation -- what matters is the weighting of the factor.If there are one hundred factors, «hours billed» may account for 95% of the weighting (as it is most likely, the main purpose of law firms is to make the senior partners wealthy).
Posted by: Blissex | Jun 30, 2007 5:19:25 AM