Law Firm Management

Lawyers: Understand the Math

I sometimes hear from young (and sometimes not so young) lawyers who do not understand the math that supports their compensation in a law firm. They know that they are unhappy and they believe that deserve more. They are thinking of answering the romantic call of the recruiter. However, they often do not have a deep understanding (or any understanding) of how their contribution is measured by the firm, apart from the obvious factor of tracking billable hours.