Compensation schemes are a historically cyclable topic whose
time has seemed to come around once again.
It has been my experience that when many law firms begin a
review of their approach to partners' compensation, they start
with a system/approach that theoretically seems to fit their
needs/desires and then try and squeeze their firm into the
system.
Such an approach works for some, but for many, it just redirects
the frustration/challenge they were experiencing that made them
want to review their compensation approach in the first place.
To enable partners to overcome these obstacles, we have
developed a straightforward two‐step approach, labeled the
"compensation gap analysis," for lack of creativity.
