I was recently invited to participate in the Association of Legal Administrators Legal Management Talk podcast. Host Kate Raftery and I discuss some of the recent trends in law firm partner compensation, such as improved performance metrics, an increase focus on profitability, succession planning, and changing behaviors. We also discuss how tackling compensation is often considered the "third rail" of law firm management, but aligning what's good for the partner with what's good for the partnership is absolutely the responsibility of leaders and managers who wish to earn their title and pay.
You can listen to the entire 14 minute podcast here, or subscribe to the podcast wherever you normally shop online.
I'll be sharing more insights into partner compensation as well as emerging trends in law firm profitability at the upcoming Advanced Financial Management Conferences hosted by ALA. Details on attendance can be found here.
Timothy B. Corcoran is principal of Corcoran Consulting Group, based in New York with a global client base. He’s a Trustee and Fellow of the College of Law Practice Management, and was 2014 president of the Legal Marketing Association. A former CEO, Tim guides law firm and law department leaders through the profitable disruption of outdated business models. A sought-after speaker and writer, he also authors Corcoran’s Business of Law blog. Tim can be reached at Tim@BringInTim.com and +1.609.557.7311.