Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Law Firms Are Rethinking Comp Systems to Recruit and Retain High Performers
From Paul, Weiss, Rifkind, Wharton & Garrison moving to a closed compensation system to Cravath, Swaine & Moore abandoning a pure lockstep model and hiring nonequity partners, elite law firms are implementing a variety of changes to their pay systems.
No matter the approach, firms appear to have a common goal in mind when making such changes: widening the ratio in pay for the highest and lowest-paid partners in order to better recruit and retain high performers. In the last 20 years, the partner pay ratio has grown from 3:1 to at least 8:1 at firms that have shown the most success, said management consultant Kent Zimmermann, a partner at Zeughauser Group.
"When you look at the firms that have broken through in most competitive practices and cities, like M&A and private equity in New York, the competitors that are breaking through and over time becoming greater market leaders in those competitive areas tend to have rising ratios," Zimmermann said.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
CoStar Wins Injunction for Breach-of-Contract Damages In CRE Database Access Lawsuit
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.
The Power of Your Inner Circle: Turning Friends and Social Contacts Into Business Allies
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.