Who is the delusional one?
The law firm hiring that expects a book of business worth millions or the Director looking for a new job with a promising package, and no transferable book?
Join a Leading Firm as Our Next Corporate Commercial Director.. How many times have you seen a punchy line like this on LinkedIn… only to apply and be quizzed about how much of your book of business is transferable?
Now don’t shoot the messenger, I have had multiple conversations like this which has led me to ask myself this question: ‘Who is delusional about their expectation, is it the law hiring firm that expects a Director to move over with a book that is worth millions or is it the Director that is expecting to earn millions, without the promise of a book?
Now, don’t shoot the messenger. I’ve had multiple conversations like this, which has led me to ask myself this question: Who is delusional about their expectation? Is it the law firm that expects a Director to move over with a book that is worth millions, or is it the Director who is expecting to earn millions, without the promise of a book?
After interviewing hundreds of lawyers, one key trend has become clear: the average Director at a top law firm does not have a substantial book of business. In fact, a solid 70-75% of that lawyer’s book is typically derived from referrals and institutional clients—relationships that have been built over years, often with a deep institutional history.
These clients trust the firm as much as they trust the individual lawyer, if not more.
Now, let’s talk about the "cream of the crop"—the lawyers who are billing in the highs of R14 million per year, the high-flyers who occupy the top 10% of the legal fraternity. These are the individuals who typically have a book of business that they can take with them, relationships that are portable and built over years of strategic networking and trust-building.
For these individuals, moving to a new firm with a solid book of business is often a seamless transition. But here’s where things get tricky.
What about the rest? The other 90% who aren’t billing those kinds of numbers?
This is where the true challenge lies. Law firms often set the bar high when hiring for Director-level positions, expecting candidates to bring a book of business that will generate immediate revenue.
But the reality is, for most lawyers, the transition to a new firm isn’t as simple as picking up a phone and transferring relationships.
Clients are loyal to lawyers, yes—but they are even more loyal to firms that deliver consistent results, a strong track record, and a reputation for excellence.
The problem arises when firms and candidates fail to recognize that building a book of business takes time, effort, and—most importantly—mutual trust. Additionally we further have the issue about panels, we are expecting Directors to move with their book of business but the firms arent even on the same panels…
The misconception lies in the expectation that a Director will bring a book of business from Day 1. The truth is, that’s often unrealistic. Even the best of us need time to build relationships, establish credibility, and prove our worth.
The real challenge for firms is recognising that while a Director may not bring a large book of business with them, they bring something just as valuable: expertise, leadership, the ability to grow business over time and their reputation which is probably the most important thing - because whilst they may not be able to bring over a book immediately, eventually a client will realise that they have left and will seek them out but their reputation could help them leverage and build new relationships, stronger ones.
Moreover, for firms, there needs to be a balance between the expectation of immediate revenue generation and the long-term potential of a Director. It’s not just about taking a lawyer with a ready-made client list; it’s about identifying individuals who can grow within the firm, contribute to its culture, and—most importantly—generate new business from the relationships they will cultivate.
So, what’s the answer?
In turn, joining a firm and expecting a massive package right out of the gate is similarly unrealistic. The old remuneration model, which heavily relied on a transferable book of business to justify astronomical pay packages, is becoming increasingly outdated.
As the legal market evolves, firms must adapt by embracing new approaches to compensation models that better reflect the long-term growth potential, client relationship building, and strategic value that a Director can bring, rather than simply relying on historical client lists.
The reality is that a lawyer’s ability to track market dynamics, understand evolving economies, and anticipate client needs is more valuable than ever before.
The legal landscape is increasingly defined by interdisciplinary knowledge, industry expertise, and the ability to provide innovative solutions that go beyond traditional legal services.
A Director’s value now extends far beyond their existing client base; it’s about their capacity to grow business organically, expand relationships, and add measurable value to the firm by aligning with the firm’s strategic direction.
The Way Forward: Rethinking Director Remuneration in South Africa
I posed this question to AI and this is what I got .. because I am searching for the answers as well.
The remuneration model for Directors and Partners in South Africa needs to reflect these shifts. The traditional "rainmaker" model—where high earnings are tied directly to a lawyer’s ability to bring in clients from day one—no longer aligns with the realities of the market. Instead, firms should consider hybrid remuneration models that combine short-term incentives with long-term growth potential. This could include a mix of:
Base Salary + Performance-Based Bonuses: While base salaries should remain competitive, bonuses and incentives should be tied to longer-term goals, such as client retention, revenue growth, and contribution to firm-wide objectives. This would motivate Directors to focus on sustainable growth, rather than short-term client acquisition.
Equity or Profit Share: For Directors who show strong leadership potential and demonstrate a capacity to drive business development, offering a profit-sharing or equity stake in the firm can be a powerful incentive. This creates a direct link between their efforts and the firm’s long-term success, aligning personal and firm-wide financial goals.
Client Relationship Development Fund: Rather than solely rewarding Directors for their existing clients, firms could offer incentives for developing new relationships or enhancing cross-functional collaboration within the firm. This approach would focus on the Director’s role in expanding the firm’s reach, creating new client opportunities, and contributing to the firm's overall growth strategy.
Non-Transactional Value: Increasingly, firms are recognizing the non-transactional value that Directors bring through thought leadership, market intelligence, innovation, and mentorship. A compensation model that includes rewards for these intangible contributions could help shift the focus from simply bringing in business to fostering a holistic growth model for the firm.
Flexibility and Growth-Oriented Packages: In South Africa, where economic conditions are variable, firms should be flexible in their remuneration models. A combination of fixed and variable compensation, tailored to the individual’s performance and the firm’s economic standing, would be more effective than a rigid model that assumes a Director will always bring a ready-made book of business.
This new model would be less about rewarding immediate client acquisition and more about recognising the long-term strategic contributions a Director makes in growing the firm’s footprint.
By focusing on growth potential and business development over time, firms can attract dynamic talent that is motivated by more than just immediate financial reward. This approach aligns with a more sustainable view of career growth, one that values the process of building business rather than expecting immediate returns.
The legal market in South Africa, globally, is moving away from the traditional expectation that a Director must immediately bring a multimillion-rand book of business.
As firms evolve, they must adopt more dynamic remuneration models that reward long-term value creation, client relationship development, and the ability to contribute to strategic growth.
Lawyers, for their part, must recognise that business development is a journey, not an overnight success, and be prepared to invest in relationships, market knowledge, and strategic collaboration with the firm to achieve success.
Ultimately, the future of Director-level remuneration in South Africa’s legal market will hinge on a shift toward sustainable growth, collaborative business development, and strategic alignment with firm objectives—rather than relying on short-term client lists or individual "rainmaking" abilities.
As the legal landscape continues to change, the firms that will thrive will be those that recognise and reward the long-term contributions that Directors make to the firm’s success.
Additionally I have been doing some research and whilst I am still waiting for the confirmation from the Law Society of South Africa, I predict that the best homes for the ones that are smart, would be joining a medium-sized law firm or specialist law firm if the pressure of targets, billing & lack of support to get to the point of billing in the high 14 Millions is missing, because there is still a massive need for your skills, but maybe its better taken elsewhere? There is a better work life balance, more functional targets and longevity.
What do you think? Get in touch with the author to share your insights on what the future will hold in terms of the remuneration model & book of business model…
We would love to hear from you and do a survey based on your answers on what the prediction will be.