The majority of partners see moves by firms to hold back profit payouts as sensible financial management, as new Legal Week research highlights the widespread use of such measures across the profession. The latest Big Question survey found that 45% of respondents have seen regular profit distributions delayed or withheld at their firm over the past 12 months, including 10% whose firms have held back ‘all or several' payments in that timeframe. The remaining 55% said all distributions at their firms had been paid out in full and on time.
March 14, 2013 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
Prudent approach to cash management wins support as firms delay profit payments. Pui-Guan Man reports
The majority of partners see moves by firms to hold back profit payouts as sensible financial management, as new Legal Week research highlights the widespread use of such measures across the profession.
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