Baker Botts Ends Lockstep System In Favor Of Levels

Law360, New York (July 29, 2010, 7:39 PM EDT) -- 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,...
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