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Jason Butwick: Why managing partners should be full-time fee earners

Should managing partners be full-time fee earners? Manju Manglani ?speaks to Dechert’s London managing partner about how he juggles client and management work

25 March 2014

One of the biggest career challenges facing managing partners is finding a balance between fee earning, client development and managing the firm. In recent years, there has been a greater appreciation of the challenges of law firm management and the need for managing partners to
be full time. Many have consequently
been given remuneration packages
that include profit participation.

But, with this comes the inevitable blame if the firm’s profits do not consistently rise in line with partners’ expectations – something which has proven to be a real challenge since the onset of the global recession. Those who have been unable to push through significant revenue growth and/or overhead reductions before the end of their terms have tended to find that they are not invited to renew their posts as managing partner. Some have even
been asked to step down early.

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