it’s not usually the time off that’s the problem, it’s the pay.
by marc rosenberg
partner comp: art & science
if there is a practice management abuse that makes me want to wring a partner’s neck, this one is a great candidate: partners who take a “clearly excessive” amount of vacation every year, maintain that they are working full time and expect their compensation to be unaffected.
more on partner compensation: paying for current vs. historical performance | how profitability affects income allocation | paying new partners and lateral hires | 3 rules for promotion to partner | should the mp be the highest paid partner? | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 subjective compensation systems | how partners view compensation: it’s not all about the money
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the partners committing this abuse are almost always founding partners, rainmakers or a former mp. in all of my experiences with this problem, the firms were under $10 million.
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