Killing Lockstep

  • Associate Salaries, Dorsey & Whitney, Killing Lockstep

    Dorsey & Whitney: Do We Have Another Firm Looking to Abandon Lockstep?

    Dorsey & Whitney’s managing partner, Marianne D. Short, was making the rounds in the Minneapolis office yesterday, talking to associates there about the future of the firm. That future might be one without lockstep compensation. A source reports: [T]he firm [suggested] it was restructuring our compensation. They did not give us any specific details. But, […]

    74 Comments / / Sep 24, 2009 at 4:19 PM
  • Killing Lockstep

    Squire Sanders & Dempsey: This Killing Lockstep Thing is Fun

    Yesterday, we reported that Orrick has decided to end lockstep compensation in 2010. Today, the Orrick effect claims its first soul. Above the Law has learned that Squire Sanders & Dempsey also intends to do away with lockstep compensation in 2010. They just aren’t quite sure what they will replace it with. But why let […]

    111 Comments / / Jul 2, 2009 at 11:26 AM
  • Biglaw, Killing Lockstep

    Orrick Ends Lockstep

    Biglaw firms have been talking about moving away from lockstep since the start of the recession. Orrick’s Managing Partner, Ralph Baxter, has been talking about it since before the recession. Next year, Orrick will be doing it. Instead of a lockstep system, the firm will introduce three different levels for associates. Here is the how […]

    214 Comments / / Jul 1, 2009 at 2:54 PM
  • Howrey LLP, Killing Lockstep, Salary Cuts

    Howrey First Years to $100K

    Welcome to the future. Like Drinker Biddle did in May, Howrey is changing the nature of the first and second year associate experience. The firm is moving to more of an apprenticeship model. New Howrey associates will receive an emphasis on training and take a significant reduction in salary. The memo from Howrey explains some […]

    185 Comments / / Jun 22, 2009 at 3:26 PM