Traditionally, law firms have rewarded partners using either equal profit share or lock-step to equal profit share. This approach has felt pressure in recent times, with more firms looking to incentivise and reward behaviours and performance, and also to attract and retain the best people.
An increasing number of firms are looking to implement at least an element of performance related profit share. Some have done it and it has worked well for them, others have done it and have found it incredibly difficult and divisive. Read this post