Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Happy New Year! Today, we look at a lockstep firm’s efforts to recruit lawyers in Silicon Valley. Sign up to receive this column in your inbox on Thursday mornings.
Of firms competing for talent in the San Francisco Bay Area, Debevoise & Plimpton is the only one that still adheres to a strict, seniority-based pay structure.
Will that limit its ambitions?
Most firms have abandoned the strict lockstep model, which divides profits evenly among partners based on tenure. They’ve been forced ...
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