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Promotion possibilities are clear up to partnership level, metrics for qualifying for promotions are clear, opportunities provided and available depending on how proactive you are on taking opportunities. lock step for first year, then determined on billables and performance.
During our graduate induction, we were provided with a rough timeline for promotions within the firm (e.g., promotion from lawyer to senior associate at approx 5 years pqe). the firm has quite a flat stucture (lawyer, senior associate, special counsel / partner) so the timeline for formal promotions is quite spread out. i do not know specifics as to salary increases based on hitting kpis yet. it appears that the firm certainly values internal promotions vs lateral hires. i sense the firm is quite transparent about promotion processes. they also provide a lot of opportunities for mentoring (e.g., junior lawyers can be buddies, senior lawyers can be supervisors / mentors).
You are a graduate until admission, then you become a lawyer. promotion to sa at 5 years pqe if you work hard and produce quality work. many special counsels and partners have been promoted to those roles internally. once you get a bit of experience, secondment opportunities are possible with our clients, as are opportunities to work at overseas firms we have strong connections with.