{"id":48798,"date":"2016-05-08t05:00:00","date_gmt":"2016-05-08t09:00:00","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=48798"},"modified":"2024-08-14t09:35:52","modified_gmt":"2024-08-14t13:35:52","slug":"open-vs-closed-compensation-systems","status":"publish","type":"post","link":"\/\/www.g005e.com\/2016\/05\/08\/open-vs-closed-compensation-systems\/","title":{"rendered":"partner pay: open vs. closed compensation systems"},"content":{"rendered":"

\"businessman<\/a>both have advantages.<\/strong><\/p>\n

by marc rosenberg<\/span><\/i>
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partner comp: art & science<\/span><\/i><\/a><\/p>\n

\u201cif people are concerned about their absolute level of compensation, then they can be satisfied. however, if their focus is on relative standing, then they can never be satisfied.\u201d<\/p>\n

\u2013 andrew grove, former chairman, intel<\/em><\/span><\/p><\/blockquote>\n

an open compensation system is one in which all partners know the earnings of all partners.<\/p>\n

more on partner compensation:<\/b> 5 other systems for paying partners<\/span><\/a> | <\/span>3 non-performance-based comp systems<\/span><\/a> | <\/span>3 subjective compensation systems<\/span><\/a> | <\/span>partner compensation 101<\/a>\u00a0<\/span>|<\/span> how partners view compensation: it\u2019s not all about the money<\/span><\/a> | <\/span>why most partner comp systems are performance-based<\/span><\/a><\/p><\/blockquote>\n

a closed system is one in which a limited number of partners are privy to this information. in closed systems, the only partners with access to all partners\u2019 income are usually the managing partner, the compensation committee and\/or the executive committee.
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