Lockstep: An Endangered Species?

"The few, the proud, the Marines?"  I would make that, "The few, the proud, the lockstep-compensation firms."  I’ve opined before that partnership compensation at many firms is in disequilibrium:  While lockstep has its merits...

Equilibrium in Partner Compensation?

Getting partner compensation "right" is an issue I have, and will continue to, recur to.  Why?  Essentially because I believe that the two extreme models (the strict lockstep and the strict "eat what you kill") each works in only the...

Partnership Compensation: “Disequilibrium” Rules

Lockstep, modified-lockstep, lockstep with pay for performance, or pure "eat what you kill?" This is an issue which has not, to say the least, achieved equilibrium.  "Equilibrium" in economics means something akin to what "climax...

Lockstep 12 Hours GMT Away?

Lockstep, modified lockstep, or free-for-all?  (Then there’s always the Jones-Day model, which appears to be completely "secretive.")  Asia, it appears, is just coming to grips with a problem that has bedeviled US and UK firms for a long...

Between a Rock and a Hard Place

"Meritocracies can be very divisive," pronounces this British analyst, in arguing that the most rational and effective partner compensation model, indeed the "undisputed model of choice,"is the "modified lockstep." But isn’t...

Is Your CFO Like a 747 Pilot?

All of us have peeked inside the cockpit of big, modern, commercial aircraft and, if you’re at all like me, you see every available square inch covered with dials, knobs, toggle-switches, and warning lights, and you wonder how on earth the pilot keeps track of...
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