Merit-based bonuses: sign of the future?

Move by Morgan Lewis gets law firms' attention.

, The National Law Journal

Legal experts have speculated that the flagging economy will push law firms to finally abandon the costly lockstep compensation systems they have clung to for years. Are the first signs of that sea change appearing? Morgan Lewis & Bockius informed associates on Monday that 2009 bonuses will be merit based, as opposed to an established amount given to those who billed at least 2,000 hours.

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