November 2, 2005
All Things Considered, The Optimal Partner Compensation System Is...
And the winner is..."Modified Lockstep," closely followed by my own perverse favorite "there's no such thing." Specifically, "lockstep with super-points" drew the most votes and "lockstep with geographic [or] practice group flexibility" were, combined, also in the running. This being a blog named after the intellectual godfather of capitalism, I am extremely gratified to report that "unfettered eat what you kill" beat "traditional lockstep" by nearly 3 to 1, but, as noted, the back-benchers choosing "no such thing" posted a very strong second showing.
My take on this? In a humane and enlightened, and yes, incentive-driven world, some specific-to-your-firm "modified lockstep" is indeed the superior choice. Proving once again the readers of "Adam Smith, Esq." are a discerning lot. (For those of you who don't know each other, trust me; this comes through in my emails all the time.)
Thanks and kind regards to all for voting—and for those of you who abstained: What's your problem? Don't tell me readers of this blog are opinion-challenged?!
Published to Compensation | Cultural Considerations | Finance | Leadership | Partnership Structures | Strategy
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