3 Ways a Firm's Partner Compensation System Can Pose a Challenge to Its Culture
What many people in the legal industry fail to realize is that law firm culture and partner compensation go hand in hand. This is particularly the case when a firm's culture embodies, or aspires to embody, collegiality and collaboration.
March 12, 2020 at 11:41 AM
8 minute read
According to a recent survey of law firm partners—60% of which were laterals—firm culture was the second most important factor when deciding which firm to join, behind only practice area support. Compensation, somewhat surprisingly, was sixth.
At the same time that would-be lateral partners are apparently favoring culture over compensation when looking to make a move, more attention in the legal industry is being given to the disparities in how law firm partners are compensated.
What many people in the legal industry fail to realize is that law firm culture and partner compensation go hand in hand. This is particularly the case when a firm's culture embodies, or aspires to embody, collegiality and collaboration.
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