Goodwin To Shift Gradually From Lockstep Pay

Law360, New York (January 20, 2010, 6:56 PM EST) -- Goodwin Procter LLP has revealed that it plans to shift away from lockstep compensation, softening the blow to associates by saying they're eligible to be considered for 2009 bonuses if they billed at least 1,850 hours.

The Goodwin Procter memo, which the firm sent to associates on Tuesday, said that it firm was developing frameworks for associates to “better clarify performance and development expectations.”

“In 2010, we plan to build upon the work that has already been done in transitioning to a competency-based approach to professional...
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