The only thing which the book is missing is a health warning on the cover. As the first global guide for partners questioning the approach of their law firm during the ups and downs in legal markets, it is unequalled.
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This book is like opening a deep trunk entitled “Partner Remuneration”, which is full of wrapped presents. Opening a parcel of thoughts; looking deep into a bag of perceptions; struggling with a packet of ideas; assimilating the implications of some thought-provoking concepts, all generate a feeling of anticipation and the promise of enlightenment. This excellent book meets these expectations.
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Law firms are constantly looking to improve the effectiveness of their partner remuneration systems and to make the administration of their partner review processes more efficient.
This comprehensive volume, edited by Michael Roch and Polina Pavlova and published on behalf of the International Bar Association, looks at partner remuneration in the context of strategy implementation, the firm’s organisational design, governance and culture. The chapters cover all topical issues on partner remuneration systems from locksteps to “eat-what-you-kill” meritocracies, performance management and remuneration-related decision making. This volume also covers some special issues and provides a perspective of how the law firm of the future will view partner compensation.
This practical book, full of real-life examples, addresses a variety of issues to be considered when designing, managing or administering partner remuneration / compensation systems. While the book does not advocate a single “best” approach to remuneration, it explores various alternatives that are suitable for law firms of different sizes and in different markets. It will be of interest to managing and senior partners, board members, HR directors and remuneration committee members of local, national and regional law firms alike.