The “classic” law firm business model is a pyramid, with a few partners at the top and many associates at the bottom. Sounds like a Ponzi scheme — but, of course, no lawyer would know anything about a Ponzi scheme.
The idea is that the few will generate work for the many, and the many will generate money for the few. The amount of your compensation varies directly with how high up on the pyramid you are perched. The location of your perch depends on how much business you bring into the Firm. At the tippy-top is the partner with the most business, the most busily buzzing worker bees and the highest comp.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]