Barlows overhauls partner pay system with new merit-based focus
Barlow Lyde & Gilbert (BLG) is to ditch its modified lockstep in favour of a merit-based pay system for the firm's partners. The overhaul will also affect associate salaries as the firm becomes the latest to move away a salary model based solely on post-qualification experience.
February 08, 2010 at 06:15 AM
2 minute read
Barlow Lyde & Gilbert (BLG) is to ditch its modified lockstep in favour of a merit-based pay system for the firm's partners.
The overhaul will also affect associate salaries as the firm becomes the latest to move away a salary model based solely on post-qualification experience.
Barlows is planning to usher in the new system at the beginning of the next financial year, with the proposals first requiring majority support from the partnership.
The new merit-based system will still be based on a traditional equity ladder, but will also be broadly split into three partner bands, with the top band reserved for star performers.
Barlows chief executive officer David Jabbari (pictured) told Legal Week: "We have to make sure that there is the right relationship between contribution and remuneration, and having these bands at which we can carefully consider individuals' performance really focuses the mind."
Towards the end of last year Barlows introduced fixed-share partners for the first time, in a move that the firm said offered it more flexibility in partner promotion and recruitment.
A number of City firms have begun to move away from paying their fee earners purely based on experience.
Field Fisher Waterhouse and Simmons & Simmons both recently announced that they intend to move associates onto a merit-based scheme as of 1 May.
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