Law360, New York ( February 19, 2016, 7:27 PM EST) -- The start of a new year is always a time for big changes in a law firm partner's life. Suddenly, lawyers get to meet all new people. Why? Because the start of the year is when laterals — partners and associates — start jumping firms. This is not due to exciting New Year's resolutions to meet new people or try out new places. No, it is instead due to law firms' odd and antiquated compensation structures. Law firms have created a perverse incentive system that hands out large checks at the end of the year and benefits no one — not clients, not associates, not partners and not even the firms themselves. The result is both a rush for exits once the ball drops and, potentially, a dangerous situation for any firm that had a surprisingly great year....
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