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Lateral Partner Survey Casts Doubt on Compensation as King
Despite proclamations of doom for the lockstep model and the growing consensus that money is king, partners seem to place compensation quite low on their priority list when deciding where to go when making a lateral move, according to Major, Lindsey & Africa's lateral partner survey.
Anticipated compensation was the sixth most important factor in choosing a firm. No. 1 was practice area support followed by firm culture, personality of partners and firm financial health.
"I think the cliche is that lawyers only care about money. I've been doing this for almost 30 years, and I can count on the fingers of one or two hands partners who came to me and said, 'Put me in the firm that pays me the most,'" said Jon Lindsey, founding partner of MLA and author of the report.
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