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LAWBIZ COACHES CORNER: Which compensation model is the most incentivizing?

Ed Poll is the principal of LawBiz Management. He coaches lawyers and is the creator of “Life After Law,” a program that helps attorneys plan for profitable exits. He can be contacted at edpoll@lawbiz.com.

Typically, there are two general models for compensation: “lockstep,” in which the firm’s overall success each year is averaged out to determine the standard rate of compensation increase for most lawyers at each level of experience; and “eat what you kill” or EWYK, by which all attorneys are rewarded on how much business they personally bring in.

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