Navigating the Ever-Changing Compensation Equation for Law Firm Leadership 

An off-the-record, peer-driven workshop exploring the changing face of partner

compensation and how to adapt in times of economic uncertainty 

Partner compensation plans that work well during a strong economy tend to foster unrest in a down economy. 

• Busy partners lament the underperformance of less-busy partners.

• Rainmakers lament carrying service partners.

• Mid-level partners resent subsidizing senior partners.

• Senior partners hold tightly to origination credits.

Firm leaders face uncertainty over which faction to appease, knowing that choosing poorly can lead to partner defections or calls for governance changes.

All partners expect to be rewarded well based on whatever contribution positions them in the best light. However, not every contribution has equal value. Many leaders are reluctant to even measure certain contributions, a failing that imperils the fiscal health of the law firm.

This highly interactive workshop – facilitated by Tim Corcoran, Principal, Corcoran Consulting Group, LLC – is designed for compensation and management committees addressing some of the most pressing compensation-related challenges facing law firm leaders today.

The discussion will address both the economics and the psychology of compensation, delving into what works in certain cultures and why, and what alternatives might be better for other cultures and why. The discussion of challenges, solutions, and roadmaps will be informed by the experience of other firm leaders in attendance.