Lateral Partner Compensation: Practical Pay Structures and Strategies for Success

recording Lateral Partner Compensation: Practical Pay Structures and Strategies for Success

You Will Learn:

• Strategies for conducting economic due diligence that is collaborative, honest and forward-looking
• Tactics for setting reasonable financial expectations, including the transaction ramp up
• Techniques for building worst case projections into compensation

Access the pre-recorded audio conference
$365.00
 

Few areas create more strife with law firm management than determining the compensation level for lateral partners.

In fact, even large firms that recruit hordes of lateral partners have a hard time designing a compensation plan that will attract and compensate laterals without undermining existing partners' compensation confidence.

This CLE webinar discusses the challenges law firms face with lateral acquisitions and explores how to avoid common pitfalls involved in compensating incoming laterals.

Learning Objectives

In this power-packed program our expert panel delves into how constructing a lateral compensation offer that is fair and balanced, and better aligns with firm strategy will improve your firm’s long-term success rate.

  • Strategies for conducting economic due diligence that is collaborative, honest and forward-looking (past and future performance)
  • Why so many lateral hires fail
  • Setting reasonable financial expectations, including the transaction ramp up
  • Building worst case projections into compensation
  • Handling of base comp, buy-backs, covenants, clawbacks, and walk-outs
  • Understanding the true cost of lateral compensation, (firm culture/ risk tolerance)
  • Assessing the strategic value and portability of the lateral lawyer’s book of clients
  • Why guarantees are antiquated and how to craft performance-based agreements instead
  • Beyond compensation- what makes laterals stay

Product ID: 16665

Overcome the Challenges Firms Face with Lateral Acquisitions!

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Faculty

Joel A. Rose
Joel A. Rose
Certified Management Consultant and President, Joel A. Rose & Associates, Inc.

Joel A. Rose is a Certified Management Consultant and President of Joel A. Rose & Associates, Inc., management consultants to the legal profession. Mr. Rose has extensive experience consulting with private law firms, corporate law departments and government agencies.

Ann Rainhart
Ann Rainhart
Chief Operating Officer, Briggs and Morgan, P.A.

Ann Rainhart is the Chief Operating Officer at Briggs and Morgan and is a member of the firm’s Management Committee. She works closely with firm leadership on strategy and operations and oversees the firm’s administrative departments. Prior to joining Briggs, Ann was a key member of the Faegre Baker Daniels operations team. In her role as Chief Talent Officer, Ann worked with the firm’s management  board and executive committee around strategies for retention, development and feedback for the firm’s 750+ lawyers, consultants and professionals, and collaborated with other administrative department leaders in key areas of business operations.

Continuing Education Units

  • cle

    C4CM provides audio conference attendees with CLE credit processing services. To expedite C4CM processing your CLE request, please complete and submit the evaluation form available from C4CM at the conclusion of the audio conference. It will be necessary to enter the following information: name of each attorney requesting CLEs with full contact information, including e-mail address, bar number, and the state in which the attorney wants credits. Each attorney requesting credits must submit an evaluation.

    Please be advised C4CM audio conferences are subject to approval from each CLE issuing organization and approval is not guaranteed (state bar associations in Delaware, Indiana, Kansas, Ohio, and Pennsylvania do not grant CLE credits for audio conferences). The approval process takes approximately 6 – 8 weeks for most organizations but can take as long as 3 – 4 months. You will be notified via e-mail with the final status of your CLE application.

    Any person applying for CLE credits must attend the audio conference from start to finish (attendance will be taken for compliance reasons). Requests for CLE credits must be received no later than two weeks following the conclusion of the audio conference or live conference. CLE credits are not available for CD recordings.

    If you have any questions regarding CLE credits, contact Jill Adler at 631.368.2082 x 21 or jill.adler@meeting-matters.com.

Overcome the Challenges Firms Face with Lateral Acquisitions!

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