This year’s Business Leadership Report is a ‘must-have’ for any provider that wants to know what its clients are really thinking when it comes to selling legal services. The report focuses on the growing range of alternative legal services and innovations provided by both traditional firms and new model law entrants. It quizzes clients on their attitudes towards these services, their uptake of them and pinpoints which are head and shoulders above the rest... Read more
The UK 200 Real Estate report analyses the key trends in terms of leading firms’ use of property. As a starting point the report will analyse the total cost of a firm’s real estate including rent, rates and service charge and the total amount of square footage they control.
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.