Update: Abovethelaw has some more coverage of this with some potential disadvantages, as well as a list of a few other firms that offer this. Also interesting there is overwhelming positive support amongst ATL readers for the two-tier track (like, 80/20 support as good for firms, 70/30 support good for associates) in the polls they are conducting last I checked. It's obvious there is a demand for less hours for less pay.

The ABA Journal reports that the Chicago firm of Chapman and Cutler is giving associates the choice of working more hours for more money or working less hours for less money. Kind of makes sense on both ends.

I have to think there are a lot of quality law students who may want to work in a firm, but don't want the hours that go along with it. So this strategy might give this firm a competitive advantage over other firms in recruiting.

And though I don't know the salaries, I would guess that working less hours for a lower salary at a big firm would still net more in salary than a lot of governmental, small firm, or public interest opportunities with similar hours, less hours being one of the draws of such jobs. It will be interesting to see if this works out and catches on at other firms.