Olswang has become the latest firm to move away from the associate lockstep model after introducing a new pay scheme for its junior lawyers.
The scheme, which goes live in September, will see the introduction of three salary bands for associates at the firm. Progression from one level to the next will depend on performance and ability in a move away from PQE-based remuneration.
The scheme is similar to that announced by Freshfields Bruckhaus Deringer last year (12 November 2009). Other firms, including Allen & Overy, Denton Wilde Sapte and Norton Rose, have already abandoned the PQE model.
HR director Ffion Griffith said: “Olswang has always believed in a meritocratic culture, and this new structured career path reflects this.
“This is an important component of Olswang’s growth strategy and our efforts to retain and reward the best talent in our market – the people who’ll make a significant contribution to achieving the firm’s goals.”
The firm will still conduct annual salary reviews to determine the three pay scales.