Becker & Poliakoff to retain 20% of partner pay

June 22, 2013 Florida-based firm Becker & Poliakoff has confirmed a plan to retain 20 per cent of partners' pay in order to maintain a cash reserve.

Managing shareholder Gary Rosen admits that the move is unpopular with partners, but points out that such measures are common among law firms, and are not a sign of financial distress. Becker & Poliakoff is somewhat conservative when it comes to debt, having declined to establish a credit line.

Rosen has said the pay holdbacks will be cut to 10 per cent from 1 July and will be eliminated by the end of 2013.

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