Law Firm Economics

link

Clients find it preposterous the way we compensate associates. They simply do not understand how a compensation system can be divorced from performance factors. And by performance factors, I should hasten to add, I don’t mean billable hours. You can – I think you can have – well, I know because I’ve seen these people in action, I’ve worked with them – you can have somebody who bills 1,800 hours a year who’s really an excellent lawyer and somebody who bills 2,200 who’s just putting in the time and punching the clock, as it were.

[ ]

If you do have an entrepreneurial bent, I think you will find that there aren’t too many people like you in big law, and you’ll either lose your entrepreneurial bent or you’ll leave. And frankly, we need a lot of entrepreneurs in the country right now, so I’m hoping most of those people leave. 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s