Mark Brandon, managing director, Motive Legal Consulting

An unhealthy obsession with PEP can ultimately kill a firm

  • Print
  • Comments (3)

Readers' comments (3)

  • Mark, This is right. Firms have exploded the myth that partnership was a prize worth waiting and working for. Budding partners must wonder why they are slaving away so many hours.

    When the Cravath model was set up it had a simplicity and a virtue. There were promises and commitments on both sides. The financial crisis has brought to a head that the model has over time lost its integrity. At least it is now explicit.

    Despite what the Lawyer leader is saying about equity partnerships surviving, I would doubt they are. For two reasons: the financial incentive to maintain PEP will persist; when ABS come partnership as a concept will begin to decline with increased corporatization of firms with the injection of external capital.

    Unsuitable or offensive? Report this comment

  • The analogy to female 100m is interesting. The record has not been broken for 20 years because Florence Griffith-Joyner was pumped full of drugs (and died an early death). Now I'm not saying that associates routinely...

    Unsuitable or offensive? Report this comment

  • I'm glad someone has come out and said this. I work for a highly profitable magic circle firm, which takes an attitude to benefits and the work environment more befitting a high street practice. Let staff have some pride in the place, show that we are successful and do things "properly", rather than beating down morale with non-stop cost cutting and generally making the offfice a miserable place to be.

    Unsuitable or offensive? Report this comment

Have your say

Mandatory Required Fields

Mandatory

Comments that are in breach or potential breach of our terms and conditions in particular clause 8, may not be published or, if published, may subsequently be taken down. In addition we may remove any comment where a complaint is made in respect of it. These actions are at our sole discretion.

  • Print
  • Comments (3)