The billable hour model of traditional law firms requires absolute allegiance to the firm and in return offers the possibility of being terminated if you do not meet a billable hourly target. This is not right. This is not Procido. We have turned the page on compensating lawyers based on billable hours and aspire to inspire the next generation of lawyer who are incentivized to care about the things that matter in the world to them and our clients.

Management Compensation

Compensation for management is determined on an annual basis by the Compensation Committee of our firm according to adherence to Procido LLP Core Values. Initial management compensation is determined through an analysis of the skills and expertise the manager brings to the firm which align with our Core Values – the greater the alignment, the larger the compensation.

Counsel Compensation

Compensation for Counsel is determined on an annual basis by the Compensation Committee of our firm according to adherence to Procido LLP Core Values and not billable hours. We are flexible with different compensation models for counsel including: allocation of percentage of billings, profit sharing arrangements, annual salary, or payment for hours worked.

Partner Compensation

Compensation for Partners is determined in accordance with our Partnership Agreement which allocates units to partners. The allocation of units is determined on an annual basis by the Compensation Committee of our firm. Units are allocated according to adherence to Procido LLP Core Values and not billable hours. Each month, to the extent there are funds available to do so, as determined by the Compensation Committee, draws are distributed to each Partner based on the number of units they hold. We do not maintain a two-tiered Partnership structure like some law firms which have non-equity or income Partners and equity Partners because we feel this further segregates Partners making collaboration more challenging. So all Partners are compensated according to the number of units they have which is based on their adherence to Core Values.

Associate Compensation

Compensation for Associates is determined annually by the Compensation Committee of our firm based on adherence to our Core Values and not on billable hours. Billable hours are inefficient for clients because compensation linked to billable hours encourages waste and excess as well as stress, anxiety, and eventually burn-out (often exhibited as leaving private practice or the profession entirely). With our firm focus on fixed fees instead of billable hours, Associates do not need to be compensated based primarily on billable hours – we can instead incentivize that which matters to clients – adherence to Core Values in delivering legal advice. In determining initial compensation for Associates the ability of the Associate to embrace and promote our Core Values is the primary metric we look at. In order for Associates to demonstrate how they have embraced our Core Values, each year Associates have the option to: (1) have an in-person meeting; (2) online video conference; or, (3) submit a Memorandum to the Compensation Committee.

Remote, In-Office, & Hybrid Compensation

For all roles in our firm we do not differ compensation if you are remote, in-office, or hybrid. To earn more in compensation at Procido LLP you need to live the Core Values of our firm every day irrespective of where you are working.

Double Time Compensation

For Double Time Associates and management we do increase compensation based on an expectation that an agreed certain number of hours will be worked every month. Contact us if you are interested in our Double Time Associate compensation model.

Part Time Compensation

For Part Time Associates and management we do decrease compensation based on an expectation that an agreed reduced number of hours will be worked every month. We do not distinguish between billable hours and non-billable hours – what matters is that every single hour at work is dedicated to carrying out the Core Values of the firm.

Structured Team Member Compensation

For Structured Team Members we pay you per project or per transaction in an amount agreed in advance, which is paid to you within 30 days of completion or closing of the project or transaction. If you prefer partial payments before completion of the project or transaction we can arrange that, but that is not our standard approach. Structured Team Members can expect to receive increased compensation or a bonus if they can demonstrate adherence to our Core Values during the project or transaction they are working on. All Structured Team Members are required to go through training related to our Core Values prior to participating in any project or transaction.

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