This piece is part of The American Lawyer’s Laterals Report, which also includes pieces examining hiring data from 2023, Dan Binstock’s deep dive on how legal recruiting really works, a look at how firms evaluate the ultimate success of lateral hires, and the Top Lateral Hires of 2023. 

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.

Kent M. Zimmermann of the Zeughauser Group. Courtesy photo

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