Shift From Lockstep Pay Rife With Perils, Experts Say

Law360, New York (January 8, 2010, 6:56 PM EST) -- The days of automatic raises and promotions for corporate lawyers may be waning, but experts say that before firms take the plunge and scrap lockstep pay altogether, they should assess the potential impacts of a performance-based system — including the toll it could take on recruitment and morale.

Many big-league firms — including Seyfarth Shaw LLP, WilmerHale LLP and Orrick Herrington & Sutcliffe LLP — have responded to the recession by revamping their old compensation models and moving away from lockstep.

According to industry expert Jack...
To view the full article, register now.