Baker & McKenzie is to change its approach to the post qualification experience (PQE) model by opting for a system that will increase the pay of London associates by merit as well as experience.
The model will see the firm introduce broader salary brands aligned around three roles - junior associate, mid-level associate and senior associate, with salaries between the roles likely to overlap. Associates that are rated as meeting the firm’s expectations or above will progress from junior to mid-level at two years’ PQE and mid-level to senior at five years’ PQE.
The migration away from the firm’s current PQE system, which rewards associates based on years of experience, was spearheaded by the firm’s London HR director Martin Blackburn following feedback from a recent associate survey.
In a brochure sent round the office the firm outlined its aims to develop its associates faster than that of its competitors, with associates expected to undertake a programme covering the core skills required throughout their years at each of the three levels.
“If we can recruit the best and develop them faster than our competitors, we not only achieve competitive advantage, we also create a compelling employee proposition where our associates can genuinely be the best they can be,” said the firm’s London managing partner Gary Senior.
Each associate will also have a ‘coach’ - expected to be a partner from each department - responsible for assessing their performance and providing feedback. For senior associates with six years PQE the firm will implement a ‘development centre’ which will draw on a range of exercises, including psychometrics and role plays, to provide them with a clearer picture of their future development.
Readers' comments (5)
Anonymous | 5-Oct-2012 3:06 pm
outrageous, the money for jam year on year approach must continue
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Anonymous | 7-Oct-2012 1:26 am
This is fundamentally no different from what most other firms in the City do. Yawn.
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Anonymous | 7-Oct-2012 11:17 pm
One point that isn’t mentioned (as far as clients are concerned) is that it is doubtful that Bakers (or any other firm who are "rethinking" their associate pay scale) would be generous enough to pass this on to a client on their bill.... 6PQE associate who doesn’t get promoted will absolutely get billed out at the same rate as the 6PQE who does get promoted..... fair? of course not, but that doesnt matter because associates are simply about margin, right Martin?....
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Anonymous | 8-Oct-2012 11:19 am
Most top City firms already do this. It's just another example of Baker's playing 'catch up'. They are never first at doing anything - slow to innovate, quicker to copy.
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Anonymous | 12-Oct-2012 2:29 pm
Before law firms look at their PQE models and how they bill their clients. I would like to see a cap on fees that law firms charge their clients, with £200.00 per hour being the maximum amount chargable. This will cover all aspects of work form family law to corporate.
A reality check and an adjustment in fees is long overdue.
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