Partner compensation systems

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thelawyler
Posts: 902
Joined: Wed Apr 13, 2011 9:00 pm

Partner compensation systems

Postby thelawyler » Sat Aug 31, 2013 9:00 pm

Where is a good place to look for how firms do their partner compensation. Some firms are easier to find information about than others regarding partner compensation just from general reputation (Cravath, etc), but most of the info on other V100 firms is related to associate compensation. But I heard that how the partnership structure is set up is more important for firm culture than how the associates are paid.

Is there a place that is a good place to find whether a firm is EWYK, modified lockstep, etc at the partner level?

bdubs
Posts: 3729
Joined: Sat Feb 06, 2010 2:23 pm

Re: Partner compensation systems

Postby bdubs » Sat Aug 31, 2013 9:19 pm

It's not publicly available unless the firm decides to make it. There is a relatively short list of firms who do pure lockstep and beyond that it's a sliding scale from tight "compensation bands" to 100% eat what you kill.

You can usually glean something about partner compensation from talking to associates and reading comments about "culture." If there are a lot of cliques and people who only work for partner X then it's more likely that the firm pays its partners based on something more akin to eat what you kill. The less ownership there is over people and stuff, the more likely it is the firm takes a more egalitarian approach.

arklaw13
Posts: 1704
Joined: Wed Jun 06, 2012 2:36 pm

Re: Partner compensation systems

Postby arklaw13 » Sat Aug 31, 2013 9:40 pm

From what I've read you can generally expect more firms to move closer towards "eat what you kill." The story is that the partners who make rain are more likely to jump ship and take clients with them if it's closer to lockstep or wide compensation bands and they're basically paying out of their own pocket for other partners to write briefs and the like.

More important and available is whether a firm is on a one-track or two-track system.




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