Bingham Unveils Details Of Lockstep-Merit Pay Plan

Law360, New York (February 9, 2010, 6:32 PM EST) -- Bingham McCutchen LLP reportedly has released the details of its hybrid compensation plan of lockstep base pay plus merit bonuses for associates for 2010, months after the firm told its lawyers it would be shifting to such a system.

According to law blog Above the Law, the firm is providing lockstep raises for associates who hit 1,900 billable hours or more in 2009. Those who billed 1,500 hours or more will receive a smaller increase, and those who billed under 1,500 will have their salaries frozen,...
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