The Catch-22 of Law Firm Partner Profits
A recent article in an American legal periodical highlighted what I believe is the irreconcilable problem with large full-service law firms in that market. The title — “Tensions Ripple Through Partnerships As Law Firm Culture Shifts to Bottom Line Focus” gives away the plot, but a couple of illustrative excerpts are worth sharing:
. . . [more]More law firms are moving to adopt a business-first approach, shifting away from traditional demands on firm partners. At Skadden, Arps, new firm leader Jeremy London has begun requiring their partners to put together business plans laying out their plans for high performance. … “