The firm first adopted the compensation-scheme changes in 2011 after some of its members expressed dissatisfaction with the firm’s expansion of the pay gap between top- and low-tier partners from 2008 to 2011.

Feedback from Shearman & Sterling partners about the pay changes has been mixed. “Some said they were unhappy their pay had been cut, while others said they felt the new model would satisfy mid-tier business generators,” according to the Reuters report.

Read the full article from Reuters here.