If You Pay for Hours, You Get Hours

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Reprinted/posted with permission of Daily Journal Corp(2009)

First in a series of four articles on modification of partner compensation models by Jeff Carr, Ed Reeser, Pat Lamb and Pat McKenna.

Moving away from lockstep, eat what you kill, originating credit, leveraged pyramid, top line revenue focused compensation models, and towards these three elements, when combined with alternative fee structures based on effectiveness, efficiency and customer satisfaction, would further enable transformation of the legal service delivery model. The status quo will resist such change because it necessarily means dislocation, redistribution of income and acceptance of performance-based risk. If, however, you believe that such change is necessary or indeed even inevitable, those firms that move to a more corporate styled compensation structure will be better able to survive and prosper as enterprises.

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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.

© Edwin Reeser, Edwin B. Reeser, A Professional Law Corporation | Attorney Advertising

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