Financial Management

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Navigating the Compensation Maze

By Nick Jarrett-Kerr

The last twenty years or so have seen considerable debate about the most suitable method of compensating and rewarding professional service firm partners and members.

5 Compensation Issues to Review at Reopening

By David Cruickshank

We all hope the tide will come back shortly after reopening. A candid review of your crisis response and tweaks to your compensation will demonstrate leadership and stability.

Navigating the Compensation Maze: Six Main Systems, Sixteen Variations, and Seven Steps to Success

By Nick Jarrett-Kerr

The ultimate choice of profit sharing system depends very much on the specific firm’s history, but each requires active and robust management.

Law Firm Resilience in a Crisis: Part One – Financial Resilience

By Edge International

In times of crisis, financial decisions need to be made quickly – but they need to be made in context and in line with a clear strategy and direction.

Some Thoughts on Cost of Production

By Neil Oakes

Over the last few years, the management of cost of production has become the most significant lever in maintaining and improving profits.

2020 Partner Compensation Survey

By Nick Jarrett-Kerr

(Thank you to those who participated in this confidential survey into effective partner reviews, rewarding outlier performance and other important topics.)

Realize Financial Goals by Leveraging the Finance Function

By Leon Sacks

Is it inconceivable that: one hour of each attorney’s weekly billable time cannot be billed; or markdowns of […]

Profit-Sharing in Smaller Partnerships

By Neil Oakes

In my most recent article, I looked at some alternative options for profit-sharing among law-firm partners. All of […]

The Benefits of Paying Creditors Promptly

By Sean Larkan

When I started off in law firm leadership and management some thirty years ago, I wondered at the […]

Zero-Based Budgeting in the Legal Profession

By Yarman J Vachha

In my many years of managing law firms of all shapes and sizes, budgeting is often looked upon […]