Adapting to a Changed Legal Marketplace
Chapter 8: Fair compensation
Both young and developing associates and partners need to be compensated fairly, consistent with the profitability of the firm and their contributions. Partners who feel they have been fairly and consistently treated for compensation purposes over the years generally have the patience not to expect to be rewarded for every success instantaneously, but to rely on the firm’s continuing long-term judgment to treat them justly over a long career. Associates should be compensated fairly for their contributions, consistently with equally profitable firms; but a lot of large firms overcompensate associates because the firm has pretentions to compete with more profitable and superior firms. The annual review of every lawyer, young and old, is an opportunity to give feedback that should not be lost.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.