management stipends: who, how and why

businessman sitting behind his desk in the office talking on a mobile phone listening to the conversation with a serious expressionand when not to pay.

by marc rosenberg
partner comp: art & science

what is a management stipend and why is it necessary?

more on partner compensation: partner pay in retirement transition period | 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 non-performance-based comp systems
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partners with significant, official internal duties require a substantial amount of time to do these jobs properly. main examples would be the managing partner, pic, practice group leader, executive and compensation committee members.
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the smart way to pay partners transitioning into reirement

how to create a win-win.

by marc rosenberg
partner comp: art & science

years ago, i had a consulting project that involved interviewing the firm’s eight partners in december and convening a group meeting in january. one of the partners was retiring, cold turkey, december 31.

more on partner compensation: paying new partners and lateral hires | paying part-time partners | the 8 basics for data-based partner performance evaluations | how to set the managing partner’s compensation | crash course: operating a compensation committee | partner pay: open vs. closed compensation systems | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | why most partner comp systems are performance-based
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he had been a great partner for 40 years and had successfully transitioned clients throughout his two-year notice period, so well that during the last month or so prior to his retirement, the gentleman literally had nothing left to do and was no longer coming to the office. but he was willing to make a special visit so i could interview him.
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top trends in comp for new partners and lateral hires

$100 bill jigsaw puzzle with piece missingplus a stern warning.

by marc rosenberg
partner comp: art & science

pay for newly merged-in and laterally hired partners invites special consideration.

more on partner compensation: paying part-time partners | how to pay non-equity partners | 5 types of partner evaluations | how large and small firms allocate income | partner pay: recapping the compensation systems | 5 other systems for paying partners | why firms use partner comp formulas | 3 tiers of compensation | partner compensation: an art, not a science | why most partner comp systems are performance-based
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merged-in partners working full time who are not retirement-minded are commonly paid no less than they made at their own firm.
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what partnership gets you (and doesn’t)

now or later keys shows delay deadlines and urgencyalso: the eligibility, costs, obligations and benefits of partnership.

by marc rosenberg

sometimes partners ask for more than they reasonably should expect. here’s a rundown of what a partner is and is not entitled to:

more on partnership: equity vs. non-equity partners | new partner vs. manager: what’s the difference? | research results: how firms pay new partners | keys to bringing in new partners

 

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a partner is entitled to:
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cpa firm partners: equity vs. non-equity

apple and orange on a seesawand why you might need both.

by marc rosenberg
how to bring in new partners

there are reasons to have both equity and non-equity partners.

more on partnership: new partner vs. manager: what’s the difference? | 23 key provisions in a partner buyout | what does buy-in buy? | how to structure partner buy-in

browse all at partnerinsider.com

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let’s run down both and then look at a comparison.

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how to pay non-equity partners

businessmen standing on dollar billdeferred compensation is on the rise.

by marc rosenberg
partner comp: art & science

there are obvious differences between equity and non-equity partners, including how they are compensated.

more on partner compensation:3 rules for promotion to partner | the 8 basics for data-based partner performance evaluations | how to set the managing partner’s compensation | crash course: operating a compensation committee | partner pay: open vs. closed compensation systems | the 3 best partner compensation formulas

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however, the differences aren’t as great as many people think.

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new partner vs. manager: what’s the difference?

smiling black businesswomanjob description: duties, voting, and non-solicitation.

by marc rosenberg

how are the duties and responsibilities of a new partner different from those of a manager?

more on partnership: 23 key provisions in a partner buyout | buyout: the flip side of buying in | research results: how firms pay new partners | what does buy-in buy? | how to structure partner buy-in | keys to bringing in new partners

 

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this is one of the grayest areas in bringing in new partners. common sense must prevail.
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