In a recent interview, Blaneys' Managing Partner, Shawn Wolfson, spoke to Precedent Magazine about the complexities of performance-based lawyer compensation. In the article, entitled "Why Bay Street just can't quit origination credits", Shawn says that "Law school doesn't teach you how to develop business" and, as a result, "...when we have a lawyer who goes out and spends the time to be able to develop an incredible practice, I think we need to be able to measure the true value of that".
Acknowledging that origination credits can be "messy", and that there are a number of performance-based lawyer compensation models at law firms, he says "Neither approach is right or wrong; they're just different". He also discusses Blaney's model where "both associates and income partners at the firm can earn origination credits—not just the equity partners."
To read the full article on Precedent, click here.