Profit-Sharing in Smaller Partnerships
In my most recent article, I looked at some alternative options for profit-sharing among law-firm partners. All of the options I described can be found in mid-sized and large firms….
Continue readingSplitting the Pie: Some Thoughts on Profit Sharing Among Partners
According to the great David Maister, “Profit-sharing arrangements between partners are among the most difficult set of issues in professional service firm management”. The way partners share profit goes right to…
Continue readingSharing Profit and Millennial Partners
The millennial generation, born from 1981 to 1996 (or thereabouts), now 23 to 38 years of age (or thereabouts), are THE succession plan for most law firm partnerships. I wonder…
Continue readingEquity: From Goodwill to no Goodwill
In recent years I have been engaged by a number of firms to change their equity arrangements and transition from a ‘goodwill firm’ to a ‘no goodwill firm.’ The push…
Continue readingNew Partners
I have just spent the weekend with a smallish firm about to introduce 3 new partners. These people are currently associates with the firm and have been employed by the…
Continue readingDo We Need to Slice the Pie Differently?
Recent client engagements have had a heavy emphasis on partner compensation. What makes this newsworthy is that many of these firms have historically been committed to equal profit share but…
Continue readingAre Traditional Profit-Sharing Models the Enemy of Diversity?
Methodologies for sharing profit among equity partners have been an interest of mine for many years. Some time ago I wrote a doctoral thesis on the behavioural consequences of alternative…
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