Law.com Quotes Managing Partner Cameron Garrison on Flexibility of Pathway to Partnership
Law.com recently covered a new report from Major Lindsey & Africa and Above The Law, which stated findings that more than half (51.5%) of young lawyers said they would trade a portion of their pay for more time off. In examining how law firms are amping up benefits and compensation packages, Lathrop GPM Managing Partner Cameron Garrison was quoted in the piece on the firm's unique two-track pathway to partnership, which debuted in 2022.
The firm partner tracks offer flexibility to talented attorneys; one track where associates could choose to bill 1,600 hours per year and the other, where they could bill 1,900. Compensation is of course less for billing fewer hours, Garrison explained, but everything else - the partnership, client and professional development opportunities, for instance - is the same.
"The idea is we have associates that want to work really hard and bill a lot of hours and they’re motivated by that, and we also have really talented associates that don’t want to bill as many hours, but they’re still really valuable to our team and our clients, and we don’t want to lose those associates just because they’re not interested in billing 1,900 hours a year," Garrison said.
"We created those tracks and allow associates to opt in based on where they are in their journey, so that’s something we’re pretty proud of and that we put in place for those exact reasons,” Garrison said. “We do think people are looking for more flexibility, and it’s not one-size-fits-all these days, so we want to be a little bit more bespoke and give people different paths and opportunities to succeeding here."
Read the full article here [SUBSCRIPTION REQUIRED]: Young Lawyers Are Willing to Sacrifice Their Comp for These Benefits.