Salaried Partnerships: The Good, the Bad and the Ugly (Edge International)

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The 2012 Edge International Global Partner Compensation System Survey highlighted that appointments of salaried partners are increasing. These are lawyers appointed partner and paid a fixed amount in money or an amount of money based on a fixed percentage share - sometimes termed "fixed equity". A majority of surveyed firms use the salaried partner regime and the trend is anticipated to continue.

I favour the salaried partner regime provided it is properly introduced and managed. It can be a powerful financial engine of a firm, building a strong foundation for future success - motivated young lawyers, providing for leadership and partnership succession and encouraging the right behaviours.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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