Partner Remuneration in Law Firms PDF Download
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Author: Michael Roch
Publisher:
ISBN: 9781911078067
Category : Law firms
Languages : en
Pages : 0
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Book Description
Law firms are constantly looking to improve the effectiveness of their partner remuneration systems and to make the administration of their partner review processes more efficient.This comprehensive volume, edited by Michael Roch and Polina Pavlova and published on behalf of the International Bar Association, looks at partner remuneration in the context of strategy implementation, the firm's organisational design, governance and culture. The chapters cover all topical issues on partner remuneration systems from locksteps to "eat-what-you-kill" meritocracies, performance management and remuneration-related decision making. This volume also covers some special issues and provides a perspective of how the law firm of the future will view partner compensation.This practical book, full of real-life examples, addresses a variety of issues to be considered when designing, managing or administering partner remuneration / compensation systems. While the book does not advocate a single "best" approach to remuneration, it explores various alternatives that are suitable for law firms of different sizes and in different markets. It will be of interest to managing and senior partners, board members, HR directors and remuneration committee members of local, national and regional law firms alike.
Author: Michael Roch
Publisher:
ISBN: 9781911078067
Category : Law firms
Languages : en
Pages : 0
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Book Description
Law firms are constantly looking to improve the effectiveness of their partner remuneration systems and to make the administration of their partner review processes more efficient.This comprehensive volume, edited by Michael Roch and Polina Pavlova and published on behalf of the International Bar Association, looks at partner remuneration in the context of strategy implementation, the firm's organisational design, governance and culture. The chapters cover all topical issues on partner remuneration systems from locksteps to "eat-what-you-kill" meritocracies, performance management and remuneration-related decision making. This volume also covers some special issues and provides a perspective of how the law firm of the future will view partner compensation.This practical book, full of real-life examples, addresses a variety of issues to be considered when designing, managing or administering partner remuneration / compensation systems. While the book does not advocate a single "best" approach to remuneration, it explores various alternatives that are suitable for law firms of different sizes and in different markets. It will be of interest to managing and senior partners, board members, HR directors and remuneration committee members of local, national and regional law firms alike.
Author: Ray D'Cruz
Publisher:
ISBN: 9781787428485
Category : Law
Languages : en
Pages : 250
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Book Description
Partner compensation and how partners share profits is central to the cohesive fabric of any professional partnership. While one adage says that "there are as many profit-sharing systems as there are partnerships", there has recently been the emergence of a global practice about what "merit" means and how risk and reward are shared among partners in professional service firms.In The Partner Remuneration Handbook, Michael Roch and Ray D'Cruz provide guidance for senior partners, managing partners, partnership boards, remuneration committees and others involved in the partner compensation process (department heads, CFOs, HRDs), on designing effective profit-sharing systems, reaching fair reward decisions efficiently and implementing motivating contribution management processes.Filled with practical insights, this book draws on principles of partnership, motivation and incentives in human capital management, and executive compensation in closely held businesses. Looking beyond the numbers, the authors balance the big picture with a detailed how-to for any professional partnership irrespective of geography, size and maturity.This title encompasses three core elements: Exploring the different partner reward systems found in most professional firms.Showing how partnerships define and discuss partner contribution commitments that further the firm's overall strategic, operational and financial objectives.Providing decision-making guidance about marrying reward to performance and on Remuneration Committee governance.It also addresses a myriad of special topics, such as rewarding partners in management roles, and provides a proven approach for how firm leaders can take partners with them on the journey of evolving their partner compensation system.
Author: James D. Cotterman
Publisher: American Bar Association
ISBN: 9781604428193
Category : Compensation management
Languages : en
Pages : 196
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Book Description
This newly updated fifth edition of Compensation Plans for Law Firms examines the continually evolving compensation landscape and the concepts that will affect your law firm most. You'll take an extensive look at the world of law firm compensation, including: -- Compensation theory --The art and science of compensation -- Partner and shareholder compensation -- Of Counsel compensation -- Associate Compensation -- Paralegal compensation --Staff Compensation -- Bonuses, increases, and incentives -- Debt, taxes, retirement, and withdrawal -- Evaluations, fairness and flexibility --And much more! Learn Where Your Firm Stands The book also features valuable data from the leading legal consulting firm Altman Weil's annual and triennial surveys on law firm performance and compensation, retirement and withdrawal and compensation systems. Charts and graphs help you see where your firm stands on salaries and bonuses, and it gives you detailed analyses of compensation plans for everyone in your firm. Compare your compensation system to law firms across the country. This one volume provides you with your primary research source leading you to auxiliary sources for further information as appropriate. They can support your current compensation system, or help you reevaluate your current methods of compensation. Careful advance consideration is essential to the success of your compensation plan. Using this valuable reference you can develop a compensation plan that conveys fairness, simplicity, and flexibility and strike the perfect balance within your firm.
Author: Ray D'Cruz
Publisher:
ISBN: 9781787428508
Category : Executives
Languages : en
Pages : 0
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Book Description
Author: American Bar Association. House of Delegates
Publisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
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Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Author: Heather Townsend
Publisher: Kogan Page Publishers
ISBN: 0749498382
Category : Business & Economics
Languages : en
Pages : 364
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Book Description
Becoming a partner in a professional services firm is for many ambitious fee-earners the ultimate goal. But in this challenging industry, with long hours, high pressure and even higher expectations, how do you stand out from the crowd? How do you build the most effective relationships? And how do you find the time to do all of this and still have a fulfilling personal life? Now in its third edition, How to Make Partner and Still Have a Life equips individuals at the start of their career through to partner with the skills needed to reach and succeed at the leadership level. How to Make Partner and Still Have a Life details the expectations and realities of being a partner and outlines how you can continue to achieve once you have obtained the much-coveted role. This edition is updated with guidance on developing the right mindset for success and the importance of mentoring and sponsorship. There is a specific focus on women and BAME professionals and the challenges faced by individuals coming from non-traditional or under-represented backgrounds. Heather Townsend and Jo Larbie provide a guide to help you tackle common obstacles and work smarter - not harder - to reach the top. Start your journey to partnership and still have the time for a life outside of work.
Author: Lindsay Cameron
Publisher:
ISBN: 9781634256162
Category :
Languages : en
Pages : 0
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Book Description
Chosen one of the Best Books of 2015 by Good Housekeeping and Redbook**A Harper's Bazaar Must-Read**Film and TV Rights Optioned to Paramount**A 2015 USA Best Book Award Winner*As featured in:Huffington Post Books, Harper's Bazaar Magazine, Bloomberg BNA, Vault, Working Mother Magazine, Chicago Tribune, The New York times, Redbook Magazine, Good Housekeeping Magazine: 20 Best Books by Women in 2015, BuzzFeed: September Reads You Must Find Time For, San Francisco Book Review: Best Books for Sweater Weather, Sheknows.com: Most Anticipated Novels of Fall, Culturalist: Best Book Club Reads, YourTango: Incredible Books Every Smart Woman Should Read this Fall
Author: Jack Newton
Publisher: Blue Check Publishing
ISBN: 9781989603321
Category :
Languages : en
Pages : 314
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Book Description
The legal industry has long been risk averse, but when it comes to adapting to the experience-driven world created by companies like Netflix, Uber, and Airbnb, adherence to the old status quo could be the death knell for today's law firms. In The Client-Centered Law Firm, Clio cofounder Jack Newton offers a clear-eyed and timely look at how providing a client-centered experience and running an efficient, profitable law firm aren't opposing ideas. With this approach, they drive each other. Covering the what, why, and how of running a client-centered practice, with examples from law firms leading this revolution as well as practical strategies for implementation, The Client-Centered Law Firm is a rallying call to unlock the enormous latent demand in the legal market by providing client-centered experiences, improving internal processes, and raising the bottom line.
Author: Mitt Regan
Publisher: University of Chicago Press
ISBN: 022674227X
Category : Law
Languages : en
Pages : 294
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Book Description
The Great Recession intensified large law firms’ emphasis on financial performance, leading to claims that lawyers in these firms were now guided by business rather than professional values. Based on interviews with more than 250 partners in large firms, Mitt Regan and Lisa H. Rohrer suggest that the reality is much more complex. It is true that large firm hiring, promotion, compensation, and termination policies are more influenced by business considerations than ever before and that firms actively recruit profitable partners from other firms to replace those they regard as unproductive. At the same time, law firm partners continue to seek the non-financial rewards of being members of a distinct profession and are sensitive to whether their firms are committed to providing them. Regan and Rohrer argue that modern firms responding effectively to business demands while credibly affirming the importance of non-financial professional values can create strong cultures that enhance their ability to weather the storms of the modern legal market.
Author: Christoph Vaagt
Publisher:
ISBN: 9781787423022
Category : Law
Languages : en
Pages : 260
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Book Description
As the legal landscape becomes increasingly competitive, it is clear that law firms do not always do enough to remain at the top of their game. Firms that have embraced the challenges presented by increased competition are undeniably in a better position than those that have not.This title aims to help partners understand what they can - and what they should not - do to chart the course of their firm most effectively, and covers current topics such as digitalisation and the emergence of new competitors from outside the market. Keeping abreast of market developments is an essential part of law firm management and this edition focuses on helping partners, and their teams, to develop the right strategy.The second edition of this practical title in Globe Law and Business's series on the business of law offers up new ways to think about strategy and how to explore it in the context of a partnership. It includes contributions from leading academics, consultants and law firm partners who share their insights and experience in strategy development and management.Whether you are a managing partner of a small, medium or large law firm, this book offers a variety of viewpoints in a comprehensive single volume. As well as partners and their teams, it will also prove useful for consultants and academics in developing research in this important area.
