From Paul, Weiss, Rifkind, Wharton & Garrison moving to a closed compensation system to Cravath, Swaine & Moore abandoning a pure lockstep model and hiring nonequity partners, elite law firms are implementing a variety of changes to their pay systems.
Law Firms Are Rethinking Comp Systems to Recruit and Retain High Performers
No matter the approach, firms appear to have a common goal in mind when widening the ratio in pay for the highest and lowest-paid partners in order to better recruit and retain high performers.
By
Justin Henry
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