Many firms have been reporting their results and announcing partner promotions recently and there has been much talk about headline law firm earnings, PEP and increased profitability.
Even if firms are doing well, some are changing compensation models to accommodate being able to pay their rainmakers more, either defensively or to attract new partner talent. Some partnership compensation ladders are being stretched to pay top partners more, the consequence of which is that partners in the middle ranks are being squeezed, and partners at the bottom are not progressing up through tougher equity gateways.
Whilst money isn't everything, it is a significant driver for many partners, and compensation models do drive certain behaviours and can have a big effect on a firm's culture.
There may be no perfect remuneration model that works well for all partners, but there are different models that may work better for you.
If you are not happy in your current firm, here are the Marsden people to reach out to:
𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗮𝘀𝗶𝗮: Jonathan Walmsley, Ben Smith, Daniel Hogan
𝗨𝗦: Nick Welsh, David Nicol, Bridget McCarthy
𝗟𝗼𝗻𝗱𝗼𝗻: Anita Taylor, Michelle Mills, Alex Russell
𝗘𝘂𝗿𝗼𝗽𝗲: Nick Paleocrassas, Máiréad Cremins. Steve Salem
𝗠𝗶𝗱𝗱𝗹𝗲 𝗘𝗮𝘀𝘁: Sonia Patel, Aaron Faith
𝗚𝗹𝗼𝗯𝗮𝗹: Jonathan Marsden
#partners #lateralpartners #remuneration #legalrecruitment #marsden
Business Development Manager- Reliable Litigation Consulting
2moWell deserved!