Idea Exchange—A Peek Behind the Curtain

Counsel Dana N. Justus moderated the “Idea Exchange—A Peek Behind the Curtain” panel at the 2023 INTA Leadership Meeting in Houston, Texas.

Panel Description

Regardless of their size or location, two topics always affect law firms—and their partners: compensation and retention.

How do law firms compensate their partners? Is one system better than others? For example, is your firm an open book, where each equity partner knows what everyone makes, or is it closed, so that only you know your compensation? Is your firm lockstep? Pure Formula? Subjective? Objective? The list goes on. This panel discussed (without revealing actual numbers) the various ways partners are paid and the pros and cons of each.  There is no right answer here, but rather the question is what is best for your firm and its partners.

How does your firm retain attorneys beyond financial compensation?  What makes your office special enough that attorneys won’t want to leave to go elsewhere? The panel discussed law firm cultures and other topics that go beyond compensation to help attract and keep talent.

The idea is to freely share with your INTA colleagues and learn from each other, so you can return to your own firms with new ideas and concepts to discuss and test.