Partner Compensation Structures – Parity (Part 2 of 7)
This is the 2nd article in a series of 7 discussing the different kinds of partnership compensation structures that law firms tend to adopt. In Part 1 we discussed the Monarch structure which involves one partner who rules over the others on compensation issues.
Parity
Description
All of the partners split the profits of the firm evenly. This format usually comes out of a situation where two or three lawyers of similar vintage are friends, and decide to form a partnership.
When It Works Well
When the lawyers have […]