Report: Partner Pay Gap Widens in the UK, Europe and Australia
Partnerships must evolve to become more entrepreneurial and collaborative, and this needs to be reflected in how profits are shared, the report said, noting that this is especially important during an economic downturn.
May 29, 2020 at 04:01 PM
3 minute read
The highest-paid equity partners in a law firm receive on average between three and five times as much as the worst paid—a widening pay gap that threatens law firm cohesion, a recent survey has found.
The 2020 Equity Partner Contribution & Compensation by MHPR Advisors and Performance Leader also revealed that the vast majority of measures used to determine a partner's compensation are production-related.
In 2020 the most common top-to-bottom compensation spread for equity partners was between 3:1 and 5:1, but only three years earlier the most common spread was between 3:1 and 2:1. The findings are based on a survey given to 162 partners in Australia, the United Kingdom and Continental Europe, most of whom are managing partners.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 4What We Know About the Kentucky Judge Killed in His Chambers
- 5'I'm Staying Everything': Texas Bankruptcy Judge Halts Talc Trials Against J&J
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250