After more than a year of examining its associate advancement and compensation model and seeing other firms move to a competency-based advancement model, Morgan Lewis & Bockius has decided to stick with its lockstep system of increasing base salary with each year of experience for partnership-track associates meeting performance expectations.
The decision, first reported by legal blog “Above the Law,” was announced to the associates by Chairman Francis Milone in a videoconference earlier this week. In mid-2009, the firm said it would look into moving to a merit-based advancement model, but as it turns out, the firm decided not to fix what it didn’t see as broken.
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