Shearman Is Latest Firm to Revamp Pay for U.K. Associates
Shearman & Sterling is ditching associate lockstep for its lawyers in the U.K., Asia and the Middle East in favor of a merit-based pay system. The new system, which goes into effect May 1, will see all associates assessed twice a year against a number of criteria including client relationships, legal and technical capabilities and interpersonal skills. Associates will be placed into one of three tiers, with each level having maximum and minimum base salaries, which are yet to be decided.
