Our work with law firm managements consists mainly of help with revising and managing partner pay programs. We suggest best-practice methods. We model the effects of changes to compensation programs and to individual partners’ pay outcomes.

Revision of Pay Programs

  • Help in managing the dialog with the partnership
  • Help in understanding the existing program:
    • Underlying profit-to-pay relationship
    • Contribution of hard-to-measure elements to pay outcomes
  • Help with the elements of program design, including:
    • Financial metrics
    • Hard-to-measure contributions
    • defining the place of individual revenue or profit contribution in the plan
  • Help with integration of the pay model into accounting systems, including:
    • Profit accounting
    • Business origination accounting
    • Cost of project accounting
    • Forecasting the impact on individuals’ earnings arising from revisions to the pay program

Management of Pay Programs

  • Linking goals and pay plan incentives
  • Designing meaningful reports to assist both management and individual partners in understanding the workings of the plan and its outcomes
  • Recommending changes in the processes to improve efficiency and reduce overhead costs
  • Forecasting the outcomes of the program during the course of the fiscal year

We are experienced in each of these areas. If you want more information about any of our services, feel free to contact us.