Fighting Mental and Physical Atrophy

We’ve gone a little soft during our travels.  Without the challenges of a job and the need to stay physically fit to handle such challenges, I feel like my mind is turning to mush and my body to flab.  In short, the discipline that kept me sharp and in shape has not accompanied us on our travels. Continue reading

Why the Billable Hour Creates Bad Incentives

The standard model of attorney compensation at big firms is to pay attorneys a fixed salary with an expectation that the attorney will bill at least 2,000 hours a year.  If the attorney does not meet the target, the firm will lose profitability and the attorney might lose job security.  If the attorney meets or exceeds the target, then they might be eligible for a bonus in excess of their salary.  In the past few years, associate salaries and bonuses have been pretty healthy.   Continue reading