Apparently not. Though to hazard a guess, most lawyers wouldn’t mind seeing thier bonuses rise to the level of their banking contemporaries. Which might satisfy for a while.

We say a while because it’s just not that simple – some of you will already feel pay is not an issue but motivation still remains a problem (and this won’t change with more money…even if more is always welcome). Added to which, close observers of our banking contemporaries might believe that astronomical pay hasn’t really helped their performance.

American writer Daniel Pink, who is focused on the changing world of work, cites various studies that suggest cash bonuses successfully produce higher performance for tasks that only require mechanical skill but not for tasks where even rudimentary cognitive skill or creativity is required. Like being a lawyer. Once people like lawyers are paid ‘enough’ for money to not be an issue, more cash won’t help performance.

So what will?

1. Autonomy: the desire to be self-directed;

2. Mastery: the urge to be challenged and to get better at something; and

3. Purpose: the desire to make a difference.

For a fuller explanation, here’s Pink in action…

Via Legal Blog Watch