Bloomberg Law
May 7, 2020, 9:40 AM

How to Handle Guaranteed Pay Packages While Partners Are Hurting

Roy Strom
Roy Strom

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Today, we look at how firms and partners can negotiate changes to guaranteed pay packages, which have become a thorny issue as firms seek to cut costs in a slowing economy. Sign up to receive this column in your Inbox every Thursday morning.

Law firms are asking partners to take a salary hit. But what do they do with partners they recently recruited with the help of a guaranteed pay package?

That’s a question plenty of law firms are discretely grappling ...

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