Domain: Business of Law
In yet another peculiar example of how law firms tend to overlook corporate best practices, many legal marketers are unaware of the financial motivators of their partners’ behavior. It’s challenging to set and manage marketing priorities without explicitly knowing whether these work for or against the partners’ economic self-interests. Even more surprisingly, the opacity of many partner compensation plans means many partners don’t have a clear understanding of which behaviors and outcomes will improve their compensation. In this session, you’ll examine the changing face of partner compensation and how you can incorporate this knowledge to better set and manage marketing and business development priorities. You may not be in the room when partner compensation decisions are made, but you can influence the decisions.
You’ll learn how to:
- Understand the classic drivers of law firm partner compensation and how these often conflict with firm strategy and marketing priorities
- Benefit from new partner compensation models growing in popularity that are more likely to foster marketing and BD mindset
- Align marketing priorities with compensation drivers
Timothy B. Corcoran, Principal, Corcoran Consulting Group, LLC
Peter Lane Secor, Chief Pricing Officer, Pepper Hamilton LLP
Member Price: $59
Prospective Member Price: $79
This session includes video, audio and synced presentations for an enhanced virtual learning experience.