When determining associate compensation, we need to know what’s fair while also understanding what amount will allow the firm to remain profitable. We can’t afford to experiment. We often end up paying whatever it takes to keep people from leaving. We come up with complicated and sophisticated approaches to associate pay, but if we start losing people, we fix the system to stop the attrition. When the team is making money for the law firm, we want to keep the team.
Your Law Firm - Lee Rosen of Rosen Institute