Firms warned against ditching associate lockstep

City managing partners are warning that ditching associate locksteps as the job market shows signs of recovery could be harmful. Many firms are gearing up to revamp their current remuneration structures. Freshfields Bruckhaus Deringer last week revealed details of its new ‘career milestone’ model, which will replace the lockstep with a system based on specific development criteria. Several firms, including Norton Rose and Pinsent Masons, have already abandoned PQE, while CMS Cameron McKenna and Simmons & Simmons are among those understood to be reviewing their systems.

Firms warned against ditching associate lockstep thelawyer.com Mon, Nov 16, 2009