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Compensation: Is <i>Not</i> Tracking Contributions a Good Idea?
Joel Rose authored last month's A&FP article on how to balance compensation for law firm partners whose strengths lay in origination, production and management. So A&FP sought his reaction to the following thought-provoking quote from Peter C. Lando and Matthew B. Lowrie.
The quote is from a recent article Lando and Lowrie coauthored for the National Law Journal. Their article addresses the question: Can a firm wanting its attorneys to have a better work-family balance survive and flourish if it requires only 1600 billable hours/yr per lawyer?
The quote (emphasis added): “Maintaining balance and a fair return for the work requires teamwork. This is necessary so that an undue burden is not placed on any one person. If the vision is not shared, then internally competitive behavior can distract from both the personal and financial rewards of practice. It helps toward that end not to track originations or billing credit.”
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Removing Restrictive Covenants In New York
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