I recently authored an article for the Law Journal Newsletter Accounting and Financial Planning for Law Firms on the topic of Partner Compensation, the different roles Partners play in the management and growth of a law firm, and a quantifiable approach to measuring these roles.
The 2009 year-end has come and gone and law firms are breathing a sigh of relief and looking forward with hopes of a better year to come. As with any year-end, it was also time to dole out partner compensation, and many firms were hoping they were able to stem the lack of demand for legal services with cost-cutting measures to keep their profits per partner above an acceptable threshold. One interesting observation is that although many firms evaluated their employees and their performance relative to saving the bottom line in 2009, an in-depth view of partner performance was by and large ignored.
You can read the full article for free on our website, or subscribe to Accounting & Financial Planning For Law Firms for additional relevant content from other industry experts.
Posted
Wed, Feb 17 2010 11:11 AM
by
DerekSchutz