Lane Powell’s recently-announced new compensation model for its Associates was featured in an article in American Lawyer titled 'A Culture That Gives You Your Evenings and Weekends: Why Some Associates Are Jumping to Midsize Firms’ on Law.com.
The article examines how the defined work culture and manageable billable hours expectations of some midsize law firms are attracting Associates from larger firms, which have traditionally followed greater billable hours requirements, and offered large bonuses and financial incentives to retain their talent as a result. In looking beyond monetary benefits and towards an improved work-life balance, Associates are increasingly seeking out opportunities at firms that place less importance on rigid billing structures, and more emphasis on professional and personal development and wellness.
The article notes, “Lane Powell, a Seattle-born midsize firm, said last week it would increase associate salaries while decreasing its billable hours requirement from 1,850 to 1,750 hours. The firm said it would also provide up to 100 hours of billable credit for pro bono, shadowing and diversity efforts.”
The complete article can be found here.
(Please note: this article is behind a paywall.)