Compensation Plans For Law Firms

This newly updated fifth edition of Compensation Plans for Law Firms examines the continually evolving compensation landscape and the concepts that will affect your law firm most. You'll take an extensive look at the world of law firm compensation, including: -- Compensation theory --The art and science of compensation -- Partner and shareholder compensation -- Of Counsel compensation -- Associate Compensation -- Paralegal compensation --Staff Compensation -- Bonuses, increases, and incentives -- Debt, taxes, retirement, and withdrawal -- Evaluations, fairness and flexibility --And much more! Learn Where Your Firm Stands The book also features valuable data from the leading legal consulting firm Altman Weil's annual and triennial surveys on law firm performance and compensation, retirement and withdrawal and compensation systems. Charts and graphs help you see where your firm stands on salaries and bonuses, and it gives you detailed analyses of compensation plans for everyone in your firm. Compare your compensation system to law firms across the country. This one volume provides you with your primary research source leading you to auxiliary sources for further information as appropriate. They can support your current compensation system, or help you reevaluate your current methods of compensation. Careful advance consideration is essential to the success of your compensation plan. Using this valuable reference you can develop a compensation plan that conveys fairness, simplicity, and flexibility and strike the perfect balance within your firm.

Thorough and practical advice that will enable firms of all sizes to develop fit-for-purpose compensation systems that can be effectively managed to drive the right behaviors and, in turn, financial success.

Brenda Barnes and Camille Stell have written a book that the legal profession badly needs. They speak from a depth of both knowledge and experience about what lawyers and law firms need if they want to achieve the firm culture they say they desire; namely, compensate in a way that supports mission, values and long term vision and strategy. All lawyers interested in understanding law firm compensation systems, discovering why past systems may not be the path to satisfaction today, and digging into possible alternative systems for the firm of the future, will find this publication an excellent resource. - Thomas C. Grella, former managing partner of McGuire, Wood & Bissette, PA in Asheville, NC, and author of Lessons in Leadership: Essential Skills for Lawyers.

Professional service firms differ from other business enterprises in two distinct ways: first they provide highly customised services thus cannot apply many of the management principles developed for product-based industries. Second, professional services are highly personalised, involving the skills of individuals. Such firms must therefore compete not only for clients but also for talented professionals. Drawing on more than ten years of research and consulting to these unique and creative companies, David Maister explores issues ranging from marketing and business development to multinational strategies, human resources policies to profit improvement, strategic planning to effective leadership. While these issues can be complex, Maister simplifies them by recognising that 'every professional service firm in the world, regardless of size, specific profession, or country of operation, has the same mission statement: outstanding service to clients, satisfying careers for its people and financial success for its owners.'

This guide is a practical resource for those firms that want to provide better client service and at the same time, improve the working environment for both lawyers and staff. It provides strategies to change the climate of the law firm, boost morale, and effectively and efficiently manage the firm. Issues discussed range from leadership and partnership issues to the basics of running the office. Includes a companion CD-ROM with more than 25 model forms, agreements, worksheets, questionnaires, policy forms, and more.

This manual helps medium and large law firms increase productivity by providing a model manual for law office policies and procedures. The book, an updated and expanded version of the previous (fourth) edition, is divided into seventeen sections, covering such topics as law office organization, management, and administration, support personnel, office polices, personnel policies and benefits, office security and emergency procedures, financial management, file systems, technology, and communications systems. The book contains numerous sample forms and documents, as well as extensive bibliographies. A CD containing the entire text of the manual is included, allowing customization of the manual for particular user needs.