The true effectiveness of partner pay and performance in law firms and remuneration systems is regularly under the spotlight. In Autumn 2012, BDO’s Professional Services team conducted research into the issue and our survey received 167 individual responses, from a range of regional, national and international law firms.
We have produced an in-depth report on the findings for 2013 and our results show that the financial cost of issues to do with partner pay and performance can easily run into millions of pounds each year. Now, more than ever, there is a pressing need for many firms to carefully address these issues.
The legal sector is facing a period of rapid change. Financial pressures are intensifying, Alternative Business Structures have become a reality and there is widespread expectation of continued consolidation.
BDO undertook a short survey of more than 100 law firms to further explore attitudes towards mergers and acquisitions, and this report comprises the findings together with our observations and analysis.
Click here to read the report