Is it Better to Be an Equity Partner or Non-Equity Partner?
Last week we reviewed the evolution of law firm partnership economics, from the early days of a single-tier, all-equity partnership, to the emergence of a non-equity partner track, to the increasingly complex range of current partnership arrangements. We pointed out that as the economic models of partnership have grown increasingly complex and differentiated, so have […]
Evolving Partnership Economics: The Equity and Non-Equity Models Are Starting to Blur
The “partner” title holds undeniable cachet in law firms. Elevation to the partnership is treated as a key professional milestone. But in the current law firm landscape, the fact that a lawyer has been designated a partner often conveys very little about the economic arrangement between that lawyer and the firm. A few firms have […]
A Deep Dive Into The 2021 Am Law 100 Rankings
Last year was a difficult year for so many industries but a shockingly good one for Biglaw, at least in terms of metrics like gross revenue, revenue per lawyer, and profits per partner. “Lawyers are terrible business people.” You’ve surely heard this before. But is it true? If lawyers are so bad at business, then […]