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Linking Partner Pay to Strategic Firm Objectives

Pay for performance is not a new concept in this country. The ideas and concepts underlying a graduated pay scale based on contribution and merit are deeply ingrained in our society. However, in general law firms have been slower to adopt pay for performance systems. What law firms need now, and this article describes, is an approach to partner compensation that closely links a partners pay to their ability to contribute to the achievement of the firm's strategic objectives.
12 minute read

The Legal Intelligencer

Duane Morris Posted Revenue, Profit Gains While Courting Merger

The firm grew revenue 3.8% and profits per equity partner 5.1% amid talks for its recent combination with Satterlee Stephens.
4 minute read

Texas Lawyer

Baker Botts Posts Revenue Turnaround After 2-Year Slide

Every department at the firm exceeded revenue targets for 2019, managing partner John Martin said. But profitability declines continued.
6 minute read

The American Lawyer

Debevoise Cracks $1B in Revenue in Third Straight Year of Major Growth

Debevoise managed to increase its profit margin and its leverage in 2019.
5 minute read

The American Lawyer

Gibson Dunn Revenues Hit $2B in Another Double-Digit Growth Year

"It was a fabulous year," said chairman Kenneth Doran, as the firm closes in on a quarter-century of nonstop growth.
5 minute read

The American Lawyer

Smaller Cities Play Catch-Up With Chicago in Hot Midwest Market

A relatively rosy 2019 for law firms wasn't confined to the country's big money centers.
5 minute read

The American Lawyer

Capital Markets, US Gains Fuel Revenue Boost for White & Case

Revenue rose 6.6% as a slightly smaller equity tier saw partner profits increase 8.25%.
4 minute read

The American Lawyer

Hogan Lovells Hiked Revenues Again in Immelt's Last Full Year as CEO

CEO Steve Immelt said balanced growth across the global firm's practices drove a seventh straight year of revenue gains.
5 minute read

Daily Report Online

Troutman Posts Revenue and Profit Growth as Merger With Pepper Hamilton Nears

"When you look across the firm, we are firing on all cylinders," said managing partner Stephen Lewis.
6 minute read

The American Lawyer

Kramer Levin's Barry Berke Is Ready to Talk

"There was a trifecta of Constitutional wrongdoing: abuse of power, betrayal of national security and corruption of our election," Berke says.
7 minute read

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