Law360, New York (July 29, 2010, 7:39 PM ET) -- Baker Botts LLP associates' base compensation, billing rates and bonus opportunities will soon be tied to a merit-oriented, three-tier system, rather than the lockstep model the firm has employed in the past.
Walt Smith, managing partner of the 750-lawyer firm, announced the move from lockstep to a leveled format Wednesday.
The base salary for Baker Botts' entry-level attorneys will stay at $160,000.
“Implementing this program will allow us to remain competitive in our efforts to recruit and retain the best and brightest lawyers,” Smith said. “Importantly,...
Baker Botts Ends Lockstep System In Favor Of Levels
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