As Steptoe partner Kate Cappaert said, "The program is focused on recognizing that each associate's career path may be different. Not everyone fits in the same box, and we're really trying to meet associates and let them take ownership and control over their career path and develop a program that allows them to do that."
The firm will offer three tracks that have different billable hour expectations that coincide with different salary bases. Associates have options to choose how they want to balance work commitments with personal life.
Associates will be awarded bonuses for meeting their billable targets, extra bonuses for exceeding them, and an option for additional discretionary bonuses, creating incentives for performance.
Each associate will be given an associate billable hour budget and compensation for 2025 based on "a review of their historical utilization and performance," allowing for a tailored approach.
#associate-compensation #work-life-balance #career-development #legal-practice #law-firm-innovations
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