MI Global Managing Partner Meeting

Getting compensation right for both Partners and Associates is key to driving success and the right behaviours in your firm – and getting it right can be a challenge!

Zulon Begum of CM Murray has significant experience advising law firms around the world about viable structures and options – join the session and hear her insights and ask the questions you need. 

Register now:

https://us02web.zoom.us/meeting/register/tZEtfuirrD4jEtz2dlo5YBQqCWCFHO1hRBAs

Zulon will cover the following:

Partner Remuneration Models:

• Pure Lockstep

• Structure and benefits of seniority-based progression.

• Challenges such as lack of performance incentives.

• Modified Lockstep

• Flexibility, incorporating performance/revenue metrics.

• Gates, progression/regression

• Balance between seniority and merit.

• Performance-Based Model

• Rewards based on individual and firm performance metrics.

• Incentivising productivity and growth.

• Potential downsides, internal competition.

Key Performance Indicators:

• Production Metrics

• Billable hours, client acquisition, and retention rates.

• Financial Metrics

• Revenue growth, profitability, and cost management.

• Professional Development

• Mentoring, training, and leadership roles.

• Client Satisfaction & Feedback

• Surveys, repeat business, client testimonials.

Succession Planning

• Talent Development

• Developing future leaders through mentorship and training.

• Creating Opportunities

• Pathways for junior partners to ascend.

• Embedding Succession in Remuneration

• Incentivising retiring partners to facilitate smooth transitions.

• Financial planning for buy-ins or phased retirements.

Conclusion - Q&A 

Also, hear from other MPs in the MI network about their experience and suggestions.

For further information please contact MI HQ mackrell.hq@mackrell.net