Lending Library

Compensation Plans for Law Firms (Third Edition)

By James D. Cotterman & Altman Weil, Inc.

Lending Library Number: 11

This newly updated fourth edition of Compensation Plans for Law Firmsexamines the continually evolving compensation landscape and the concepts that will affect your law firm most. You'll take an extensive look at the world of law firm compensation, including:

  • Compensation theory
  • The art and science of compensation
  • Partner and shareholder compensation
  • Of Counsel compensation
  • Associate compensation
  • Paralegal compensation
  • Staff compensation
  • Bonuses, increases, and incentives
  • Debt, taxes, retirement, and withdrawal
  • Evaluations, fairness and flexibility
  • . . . and much more!

Learn Where Your Firm Stands
The book also features valuable data from the leading legal consulting firm Altman Weil's annual and triennial surveys on law firm performance and compensation, retirement and withdrawal, and compensation systems. Charts and graphs help you see where your firm stands on salaries and bonuses, and it gives you detailed analyses of compensation plans for everyone in your firm. Compare your compensation system to law firms across the country. This one volume provides you with your primary research source leading you to auxiliary sources for further information as appropriate. They can support your current compensation system, or help you reevaluate your current methods of compensation.

Appendices To Help You Polish Your Plan
The book also features appendices that highlight key compensation issues, including: One approach to allocating client production credit; Articles on capital, retirement planning, and the importance of people decisions; Criteria for defining exempt employees; and a survey of the prevalence of fringe benefits. Careful advance consideration is essential to the success of your compensation plan. Using this valuable reference you can develop a compensation plan that conveys fairness, simplicity, and flexibility and strike the perfect balance within your firm.