This blog is written by Jim Cotterman of Altman Weil. The blog focuses on law firm finance and lawyer compensation. Cotterman has advised law firms about capital structure, compensation system design and other economic issues. He has also written a book on law firm compensation titled, “ABA’s Compensation Plans for Law Firms.”
The categories of the blog are Altman Weil news, Associate Compensation, Capital, Economics, Legal Profession, Mergers, Partner Compensation, and Retirement. Many of the articles are not lengthy and provide simple tidbits of knowledge for the reader.
Cotterman’s most recent article, written in 2014, was on pricing. He explains that pricing should be a reflection of the fair market value, so hourly rates will vary by country, state, and city. Pricing will also vary depending on the specialty of the service needed.
Another article on retirement provides points that are important for lawyers to consider for their own retirement plans. Some senior partners wish to retire quickly from the firm, while others cut back the amount of work they are willing to do significantly over a period of time. Every law firm will have different ways of handling these situations. Senior partners will have a list of loyal clients that can be handed down to the firm to continue to maintain and grow its revenue.
Source: http://blog.altmanweil.com/
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