Pay guarantees remain common despite widespread concerns over effectiveness
The majority of partners regard guaranteed pay deals for senior lateral hires as an ineffective weapon in the war for talent, despite a consensus that such deals are common. Fifty-seven per cent of the respondents to Legal Week's latest Big Question survey said guaranteed deals were either not very effective (43%) or made no difference (14%) in helping law firms secure the best talent, with just 12% regarding them as very effective and 31% as quite effective.
Partners express doubts over return on investment from guaranteed pay deals. Grant Murgatroyd reports
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