Veltro Advisors assists law firms and their managements in matters of partner pay determination: Establishing, revising and managing compensation programs.
That is all we do.
We have encountered a diversity of partner pay programs and have found that many different models can and do succeed. All successful law firm pay regimes have two characteristics in common:
- Consistency with the prevailing culture of the firm
That said, many pay regimes can benefit from attention to:
- Changing partners’ opinions about the fairness of pay outcomes
- Connections to project, partner and firm-wide profitability
- Efficiency of administration
- Efficiency of incentives, explicit or implicit
- Provision of information to partners
Ultimately, law firm pay programs often need to evolve.
Management of change in a law firm’s senior pay program is a skill unto itself. It calls for consultation with partners in well-organized fashion at stages from resolving philosophical controversies to hammering out details. Missteps can create confusion and antagonism.
To see how we can assist your firm, please examine this website, request the white papers described on our publications page and don’t hesitate to call or write us to discuss further.
Richard T. Rapp | firstname.lastname@example.org
David C. Bucco | email@example.com