Law360, New York (March 19, 2010, 5:14 PM ET) -- Shearman & Sterling LLP has joined a growing number of firms in abandoning a lockstep model of associate compensation for its U.K.-track attorneys and moving to a merit-based system focused on career development.
The change, announced recently to associates, will likely be put in place in early May, said Marcus Franks, co-head of global human resources for the firm. The system will only affect the firm's approximately 80 U.K.-track attorneys in London, Asia and the Middle East.
As an alternative to lockstep, Shearman will develop three...
Shearman Moves Away From Lockstep For UK Attys
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