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Three Key Issues Surrounding Partner Compensation
Whether a firm is flush with money or if the amount of distributable profits is tight, partner compensation is invariably the topic of most interest in every firm. It is also a topic that involves the most fervent debate and encompasses the most varied points of view. Not surprisingly, partners will normally advocate a compensation system that favors their particular strong points as attorneys.
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Partners who do not generate much of their own business, but have high billable hours, obviously promote a system based upon billable hours only. Partners who tend to bring in a great amount of “rain” and allow it to be serviced by others normally would promote a system based solely upon origination.
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A firm cannot be composed of only attorneys who develop business without any attorneys who can service it. Nor can a firm be composed of attorneys with administrative skills without actual business to administer and oversee. A firm solely staffed with productive attorneys will soon run out of work if business is not brought in by at least a significant percentage of partners.
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