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Apr 25, 2017


When Should a Law Firm Partner Compensation System Be Changed?

Question: 

I am a partner in a fourteen attorney business litigation law firm in New Orleans. There are five partners in the firm. We are a first generation firm and all of the five partners are the original founders. Each of the partners have equal ownership interests and are compensated based upon ownership points. While this approach to compensation worked for many years this system is no longer working for us. Performance used to be pretty close but this is no longer the case. Your suggestions are welcomed.

Response: 

This is a common problem that new law firms eventually face. Here are a few thoughts:

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John W. Olmstead, MBA, Ph.D, CMC


Posted at 09:42 PM in Compensation
Tags: a, Be, Changed?, Compensation, Firm, Law, Partner, Should, System, When

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