by Bruce | December 13, 2005 | Articles, Compensation, Finance, Leadership, Partnership Structures, Strategy
According to The Recorder, "Law firm leaders throughout California identify increasing leverage as a key strategy in their business model." We are here to ask the time-honored question, "What can they be thinking?" Let’s back up. ...
by Bruce | December 8, 2005 | Articles, Compensation, Cultural Considerations, Finance, Globalization, Leadership, Partnership Structures, Strategy
Of all the "evergreen" topics we keep coming back to here at "Adam Smith, Esq." one of the ever-greenest (no pun…) is the eternal disequilibrium between lockstep and eat-what-you-kill partner compensation models. Most recently, I...
by Bruce | December 6, 2005 | Articles, Compensation, Cultural Considerations, Finance, Globalization, Leadership, Partnership Structures, Strategy
No sooner had we surveyed the prospects for a talent war for associates among the AmLaw 200 than along comes the Financial Times reporting on the release in the UK of PwC’s annual survey of law firm finances. (I’ve requested a full copy by email to...
by Bruce | December 5, 2005 | Articles, Compensation, Cultural Considerations, Finance, Leadership, Marketing, Partnership Structures, Strategy
Some reader emails are more provocative than others, and today we have one from the first category. Actually, we have this from a few days ago and I’ve been sitting on it while I contemplated how to handle it. The sender, writing "on his own...
by Bruce | December 2, 2005 | Articles, Compensation, Finance, Globalization, Leadership, Partnership Structures, Strategy, Technology strategy
The American Lawyer is out with their annual survey of the AmLaw 200 managing partners (147 responded this year—summary Q&A results here), and while the news is almost overwhelmingly good (at least if you’re a partner in the AmLaw 200, and not a client...
by Bruce | December 1, 2005 | Articles, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Strategy
A few days ago I received this email from a reader, with respect to my "Optimal Partner Compensation" post: "I like your point of view, but with one question: how do you calculate/compare the 30 percent kicker [up or down] at the end of the comp cycle...
