The Lawyer Global Litigation Top 50 report is the only ranking of international law firms by litigation and arbitration revenue and is essential reading for anyone seeking to benchmark their litigation and dispute resolution practices...
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Morrison & Foerster (MoFo) will retain its lockstep pay system for associates
The San Francisco firm had considered replacing the traditional lockstep with a merit-based salary range, but following the firm's decision reversal, its associates will receive full pay increases this year. MoFo chairman Keith Wetmore said the firm will employ a remuneration model based on hours. It will continue to use a two-tier system whereby associates above first year level will be compensated depending on how many hours are billed. Those associates who reach 1,950 hours will be paid a higher rate than those billing less than that figure. The base rate for first year associates stays at $125,000 (£88,700). MoFo's decision comes as a positive contrast to other Bay Area firms, where cost-cutting initiatives have kept associates' salaries static. Brobeck Phleger & Harrison, Cooley Godward and Gray Cary Ware & Freidenrich have all frozen associate advances up their lockstep, although Cooley Godward did give second year associates a small increase to keep them ahead of the incoming first year cohort. So far, Wilson Sonsini Goodrich & Rosati has been the only other Bay Area firm to give lockstep increases to its associates.