Tag Archives: Bonuses

The Bonus Question

Most major law firms pay annual associate bonuses during the months of January and February. Firms eye their competition and try to match or slightly outdo each other without giving away too much of their precious partnership profits. As each new year begins, many lawyers wonder: How much will my bonus be? Or, in tough…
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How to Get Your Head Hunted

Scenario #1: You decide to explore the legal marketplace and want a headhunter’s help. But, you’ve heard that it’s better if the recruiter calls you rather than the other way around. Scenario #2: Your colleague was happily working away when, out of the blue, she got a call from a search firm and just landed…
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Is Lockstep Out of Step with the New Reality?

Most law firms, unlike other businesses, categorize associates by law school graduation year rather than level of expertise for purposes of hiring, compensation, and promotion. Until recently, the traditional lockstep model made some sense, assuming that associates who enter law practice at the same time gain like experience at similar firms. Class year designation, therefore,…
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The Billable Hours Crunch

Billing by the hour remains central to private law practice despite its adverse impact on client service and lawyers’ quality of life. More than a decade ago, a 2002 ABA Commission on Billable Hours study discussed the negative effects of hourly billing and urged alternative billing arrangements. Most lawyers in practice today consider hourly billing…
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