Compensation Plans for Law Firms
By James D. Cotterman
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Much has changed since 2010, when the Fifth Edition of Compensation Plans for Law Firms was published. But just because the economy improves doesn't mean an automatic bright future for law firms. The lessons of the financial crisis are still foremost on everyone's mind, and there are still big challenges ahead for law firms. Staying relevant is more than just getting the best talent; it also means designing the best and most competitive compensation programs so they remain your talent. The revised Sixth Edition of Compensation Plans for Law Firms, provides complete and systematic guidance on how to establish a fair and competitive compensation program for your firm. The book includes workable approaches for compensating partners and associates, as well as other contributors to the firm, including paralegals, clerical staff, and other professionals. This valuable, one-volume resource features insight and information from the leading legal consulting firm Altman Weil, Inc. and selected data from surveys on law firm performance, retirement and withdrawal, and compensation systems from ALM Legal Intelligence, A Division of ALM (many formerly from Altman Weil Publications). Charts and graphs illustrate concepts and methodologies, and the book gives you detailed analyses of compensation programs for everyone in your firm. Using this valuable reference, you can develop a compensation program that conveys fairness, simplicity, and flexibility and strikes the perfect balance within your firm.