WHAT IS THE BEST SYSTEM OF PARTNER COMPENSATION FOR YOUR FIRM?  With infinite variations, four basic methods of partner compensation are used by law firms: 1) equal division of profits; 2) a lock-step salary structure based on longevity and seniority; 3) subjective formulas, in which partners' income is determined either by negotiation, or imposed by a committee or a benevolent dictator; and 4) objective formulas, where compensation is determined by measurable factors such as dollars billed Read More....