by Bruce | February 22, 2024 | About the Site, Articles, Cultural Considerations, Finance, Ineffable, Just Plain Interesting, Partnership Structures, Strategy
This is one in our occasional series of excerpts from my yet-to-be-published new book, treating, among other things, the historic roots of our profession tracing back to medieval guilds. I hope you enjoy, and, more importantly, that you provide any feedback,...
by Bruce | February 1, 2024 | Articles, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Practice Group Management, Strategy, Technology strategy
When it comes to partner pay, the first thing everyone salaciously wants to know is “how high is up?” And second by a nose is probably “Who’s on top and by how much, especially compared to me?” Please, people, we can do better than this. (You have to admit it sounds...
by Bruce | December 18, 2023 | About the Site, Articles, Business Models, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Recruiting
“Cravath To A Million Squillion!” Sorry, but we’ve seen this dance so many times before that, you have to admit, we all know the script by heart. Cravath (or other blue chip firm [insert here]) bumps up associates’ salaries across the board by an average of...
by Bruce | October 5, 2023 | Articles, Business Models, Compensation, Cultural Considerations, Finance, Partnership Structures, Strategy
“Ripped from the headlines,” as the cliche-inclined might say, we have this from The American Lawyer in the past week or so: Elite Firms Revisit Comp Formulas as Star Talent Has ‘Extraordinary Leverage’ Some highlights: According to Kent Zimmerman over...
by Bruce | August 23, 2023 | Articles, Business Models, Finance, Partnership Structures, Practice Group Management, Strategy
The following article is by Janet Stanton, Partner, Adam Smith, Esq. LLC. Quite simply, our reason for exploring the non-equity tier is that (a) there has been explosive growth in that cohort and (b) we’ve not seen recent, comprehensive examination of this phenomenon....
by Bruce | July 16, 2023 | Articles, Branding, Business Models, Cultural Considerations, Finance, Leadership, Partnership Structures, Strategic Client Management, Strategy
It has been four years since we initially published our series laying out a law firm market segmentation model we called the “Maroons & The Grays,”[1] and four years on is none too soon for an update. No model is, or should be, static, and as we have worked with...
