PerformLaw

Law Firm Best Practices Blog

Setting and Adjusting Base Salaries

on Feb 15, 2018 5:21:53 PM

Defining a process for setting and adjusting base salaries is difficult for most law firms.  Law firms typically make salary decisions based on the following factors: 

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Well-Developed Compensation Policies and Pay Plans for Lawyers

on Jan 18, 2018 6:09:07 PM

A well-developed compensation plan can provide a roadmap for law firms and lawyers to derive the maximum benefit from their association. To start, firms should devise written compensation policies, guidelines, and incentives to ensure lawyers are paid competitively and commensurate with individual contributions. When firms add progression policies and guidelines to this pay structure, their lawyer groups are usually found to be more productive and satisfied.

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A Structured Approach to Fairly Compensating and Promoting Lawyers

on Jan 5, 2018 9:14:57 AM

 

Fairly compensating and promoting nonowner lawyers (associates, income partners, counsel, of counsel, etc.) is best accomplished using a structured process. The process should be transparent and include:

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Compensating for Profitability

on Jan 31, 2017 9:34:00 PM

 

Compensating based on profitability ensures that a firm’s bonuses are tied to created profits. While more difficult to accomplish, the results are often better.

 

 

 

 

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The Essential Guide to Associate Development

on Jun 28, 2016 8:30:00 AM

 THE PLAN:

Hire the best attorneys. 

Develop them into successful attorneys. 

Encourage productivity and retention with  compensation and incentives.

Repeat.

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The Uncharted Waters of Compensation

on Jun 16, 2016 12:33:42 AM

Beyond the billable hour, there are additional ways in which associates can bring value to a firm. However, firms rarely consider these areas of value in developing their associate compensation plans.  Four of the more quantifiable, non-production ways that associates, depending upon their level, can add value include:

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law firm management concepts blog discusses relevant law firm topics

The Law Firm Management Concepts blog includes conceptual posts on important issues to law firms. These posts will correspond  to the posts found on our main blog ("Law Firm Best Practices") which offers detailed analysis and advice for putting concepts into practice.

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