While many firms have fine-tuned their partner compensation systems over time, compensation remains an evergreen topic within partnerships, and one does not have to look hard to find ways to further improve a system.
As most managing partners will attest, lateral hiring presents both opportunities – and risks.
Exploring new ways to gather information on partner contributions.
Identifying the right approach can be critical to a firm’s long-term success or even survival.
In our recent work with firms we have reached the following conclusions (among others) about compensation.