Image [cc] Xtreme Xhibits

Whenever I try to explain to my friends and family what my job is as a pricing guy, they usually give me a blank stare. My kids have even comment they think I might actually work for the CIA since I can’t seem to explain it well. The reason is is

In Part One of this series, we talked about how pricing is pulling towards the compensation challenge for law firms, based on how pricing is interwoven with profitability. In this next section we put forth a “Straw Man” for how compensation might change to better motivate profitable behavior by law firm partners.
Part Two
A

In this two part series, we will look at how the legal pricing role has been drawn into the profitability role and is now being pulled towards the compensation side of law firms. From there we will apply the knowledge being gained from pricing and lay out a possible future compensation approach focused on motivating

Image [cc] Allen Sheffield

As an observer of the legal pricing market, I try to keep a keen eye on the underlying, economic forces driving changes. I have previously posted on the internal forces acting on in-house counsel to save money. And recently, I am seeing a stronger emergence of another aspect of this force.

Tomorrow is the deadline for early bird, discounted registration for the upcoming P3 Conference. The Conference, on Pricing, Practice Innovation and Project Management, will be a unique experience for those interested in these topics. 

The Conference was designed around the goals of the Client Value Shared Interest Group of the LMA. These goals are:

What started as a modest group of pricing people 2 years ago (I believe it was five of us) has grown now to about 200 people. The group is now comprised of pricing and project management people with a wide variety of titles and roles. Some in the group are strictly in these roles. Others