Comments for Cotterman on Compensation http://blog.altmanweil.com Lawyer compensation and law firm finance Fri, 04 Jul 2008 13:44:10 +0000 http://wordpress.org/?v=2.2.1 Comment on Compensation for the New Partner by August Aquila http://blog.altmanweil.com/2008/01/27/compensation-for-the-new-partner/#comment-88 August Aquila Tue, 12 Feb 2008 21:50:59 +0000 http://blog.altmanweil.com/2008/01/27/compensation-for-the-new-partner/#comment-88 <p>Jim, Really enjoy your insights into partner compensation. You always seem to get to the point by asking the right questions.</p> <p>August Aquilap> Jim, Really enjoy your insights into partner compensation. You always seem to get to the point by asking the right questions.

August Aquilap>

]]> Comment on How Much Debt? by Debt Management for Law Firms | MorePartnerIncome.com http://blog.altmanweil.com/2008/02/08/how-much-debt/#comment-86 Debt Management for Law Firms | MorePartnerIncome.com Mon, 11 Feb 2008 06:01:00 +0000 http://blog.altmanweil.com/2008/02/08/how-much-debt/#comment-86 [...] Cotterman, in a recent post, writes on how much debt a law firm should [...] […] Cotterman, in a recent post, writes on how much debt a law firm should […]

]]> Comment on Retirement - At What Age? by John http://blog.altmanweil.com/2007/11/02/retirement-at-what-age/#comment-81 John Fri, 08 Feb 2008 13:11:34 +0000 http://blog.altmanweil.com/2007/11/02/retirement-at-what-age/#comment-81 Dear Mr. Cotterman, What about well-trained, thoroughly experienced, efficient and remarkably useful 50+ lawyers who have no thought of "retiring" ... who intend to remain in the practice of law for decades longer? What about the gross, obvious and nearly universal age discrimination against these men and women? This is not just a matter of "compensation", this is a matter of all law firms (not just the largest) advertising for "second year" attorneys or attorneys with "3-4 years of experience in ..." as a "qualification" so that they can invidiously discriminate against attorney who could, and would willingly, do just as well (probably better), but who have eclipsed the magic age where they are (irrationally and prejudically) thought to be of no more use. You cannot thoroughly talk about "compensation" without addressing the wholesale invidious discrimination which is being visited against all "senior" lawyers. The recent Justice Department multi-million dollar settlements are just the tip of the iceberg which represents a wholesale undermining of one of the fundamental pillars of the American legal system ... experience counts. But, now, apparently, it doesn't. What counts is youth and appearance. Dear Mr. Cotterman,

What about well-trained, thoroughly experienced, efficient and remarkably useful 50+ lawyers who have no thought of “retiring” … who intend to remain in the practice of law for decades longer? What about the gross, obvious and nearly universal age discrimination against these men and women? This is not just a matter of “compensation”, this is a matter of all law firms (not just the largest) advertising for “second year” attorneys or attorneys with “3-4 years of experience in …” as a “qualification” so that they can invidiously discriminate against attorney who could, and would willingly, do just as well (probably better), but who have eclipsed the magic age where they are (irrationally and prejudically) thought to be of no more use.

You cannot thoroughly talk about “compensation” without addressing the wholesale invidious discrimination which is being visited against all “senior” lawyers. The recent Justice Department multi-million dollar settlements are just the tip of the iceberg which represents a wholesale undermining of one of the fundamental pillars of the American legal system … experience counts. But, now, apparently, it doesn’t. What counts is youth and appearance.

]]> Comment on Balance Sheet Metrics by Year End Distributions to Law Firm Partners | MorePartnerIncome.com http://blog.altmanweil.com/2007/12/13/balance-sheet-metrics/#comment-79 Year End Distributions to Law Firm Partners | MorePartnerIncome.com Thu, 31 Jan 2008 16:31:05 +0000 http://blog.altmanweil.com/2007/12/13/balance-sheet-metrics/#comment-79 [...] checks yet you might want to read two of Jim Cotterman’s recent blog posts. See his post Balance Sheet Metrics and his post Partners Contribute Hidden Capital. Cotterman is big on new partner buy- ins and [...] […] checks yet you might want to read two of Jim Cotterman’s recent blog posts. See his post Balance Sheet Metrics and his post Partners Contribute Hidden Capital. Cotterman is big on new partner buy- ins and […]

]]> Comment on Welcome! by Ashley Balls http://blog.altmanweil.com/2007/10/16/welcome/#comment-43 Ashley Balls Wed, 31 Oct 2007 00:30:28 +0000 http://blog.altmanweil.com/2007/10/16/welcome/#comment-43 Jim This is a very useful and insightful blog. I would be interested to learn if you have a view on why EU firms - particularly in England - seem to be encouraging thier senior partners to retire. These partners are typically aged 55-60 and carry what can only be described as thier firm's institutional memory and wisdom. If they were leaving to join clients in some governance capacity - it would be understandable but many do not. The trans Atlantic comparison is stark. In New York and other US metropolitan centres grey hair is still acceptable and respected. When discussing this with partners of leading London firms earlier this year the common denominator seems to be the naked aggression of young partners and it is not a good look. Ashley Auckland, New Zealand & UK Jim
This is a very useful and insightful blog.
I would be interested to learn if you have a view on why EU firms - particularly in England - seem to be encouraging thier senior partners to retire. These partners are typically aged 55-60 and carry what can only be described as thier firm’s institutional memory and wisdom. If they were leaving to join clients in some governance capacity - it would be understandable but many do not. The trans Atlantic comparison is stark. In New York and other US metropolitan centres grey hair is still acceptable and respected. When discussing this with partners of leading London firms earlier this year the common denominator seems to be the naked aggression of young partners and it is not a good look.
Ashley
Auckland, New Zealand & UK

]]> Comment on Income Spread by John http://blog.altmanweil.com/2007/10/28/income-spread/#comment-42 John Tue, 30 Oct 2007 18:05:32 +0000 http://blog.altmanweil.com/2007/10/28/income-spread/#comment-42 The problem with compensation spread lies in how it is used. In my view, it is an interesting statistic that results from calculations using already set compensation figures. I certainly don't have the experience level of AW, but, I find it hard to believe there can be any circumstance in which it is appropriate to use spread as a target when determining compensation, unless of course a firm is trying to reduce the number of partners. The problem with compensation spread lies in how it is used. In my view, it is an interesting statistic that results from calculations using already set compensation figures. I certainly don’t have the experience level of AW, but, I find it hard to believe there can be any circumstance in which it is appropriate to use spread as a target when determining compensation, unless of course a firm is trying to reduce the number of partners.

]]> Comment on Welcome! by Stephen P. Gallagher http://blog.altmanweil.com/2007/10/16/welcome/#comment-38 Stephen P. Gallagher Wed, 17 Oct 2007 21:55:00 +0000 http://blog.altmanweil.com/2007/10/16/welcome/#comment-38 Jim: With the number of "Baby Boomer" vintage attorneys looking to stay active - to a more limited extent - in the practice, this is great timing for your Compensation blog. Good luck with it. Stephen P. Gallagher Narberth, PA. Jim:
With the number of “Baby Boomer” vintage attorneys looking to stay active - to a more limited extent - in the practice, this is great timing for your Compensation blog.

Good luck with it.

Stephen P. Gallagher
Narberth, PA.

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