Credit: Andrii Toryanik/Adobe Stock Partner Pay Transparency Is Eroding, Even if 'Black Box' Systems Haven't Caught On
Some firms now make partner pay data less accessible. Opening up pay data can lead to "a lot of partner dissatisfaction and angst," one consultant said.
November 01, 2024 at 05:00 AM
6 minute read
Law Firm Management
What You Need to Know
- Law firms have shifted away from sending out spreadsheets of partner pay data. Some now use internal dashboards or portals.
- Firms aren't completely closing their compensation system for internal review, but some firms are moving to distribute less data.
- In a recent survey, 48% of partners said their law firm had an 'open' compensation system; 32% said they were in closed systems, and 20% said their systems were partially open.
Even after the move by Paul Weiss Rifkind Wharton & Garrison to adopt a closed compensation system, Big Law is not moving en masse toward blocking off all internal access to partner pay data, industry consultants say.
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