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multi-year compensation contracts

TweetGuaranteed multi-year partner compensation contracts, in an open system where all partners know what everyone makes, was probably ground zero of the Dewey & LeBoeuf disaster. High partner compensation, with no tie to the firm’s realization rate and without an escape clause to allow for adjustment in a declining market, no doubt sealed Dewey’s fate. […]

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TweetDewey & LeBoeuf’s seemingly rapid free fall has caught the attention of business analysts and bankers as much as the legal community.  As a result, the legal industry today is undergoing the same scrutiny as the financial services industry did in 2008. While criminal allegations, lush multi-year contract guarantees and big debt dominate the Dewey […]

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