Lockstep compensation or seniority-based compensation is a system of remuneration in which employees' salaries are based purely on their seniority within the organization. For example, in the legal profession, where this system is most commonly found, all law school graduates hired by a law firm who graduated in the same year receive the same base pay regardless of background, experience, or ability.
Lockstep compensation or seniority-based compensation is a system of remuneration in which employees' salaries are based purely on their seniority within the organization. For example, in the legal profession, where this system is most commonly found, all law school graduates hired by a law firm who graduated in the same year receive the same base pay regardless of background, experience, or ability.
Source: Wikipedia "Lockstep compensation" · CC BY-SA 4.0
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