Marketing, Origination and Formulatic Law Firm Compensation Systems
With the increased importance of marketing in the universe of law firm priorities, incentivizing and rewarding marketing in law firm compensation systems is receiving more and more attention. The table on page 3, taken from the Altman Weil 2000 Law Firm Compensation System Survey, shows that business origination was the most important compensation factor, in a virtual tie with (but edging out) personal fees collected. See the first and last rows (the lower the number the higher the ranking). In the Altman Weil 2003 Law Firm Compensation System Survey, due out shortly, we expect that business origination will hold a similar ranking.
Download the complete article to read more…