Workers of the world unite.
By Bill Penczak
About a decade ago, the managing partner of our $100 million firm and I were discussing compensation and commission for our five business development professionals. He and I were in complete agreement that there should be no cap on commission or compensation – even if that compensation level with their base and commission was at par with or even exceeded that of the partner group.
MORE: 12 Points of a Good Compensation Plan | Rate Managing Partners in Six Areas | Eight Ways Managing Partners Make a Real Difference | Five Reasons That Leaders Fail | Eleven Things Partners Must Do | Seven Keys to Becoming an Equity Partner | How to Achieve Partner Unity | The Seven Building Blocks of a Great Partnership
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“If they’re making money, we’re making money,” he said. “Why would I want to limit that?”
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