Breaking Open The Black Box Of Partner Compensation
In 2023, the news broke that Cravath, one of the famous hold-outs of the adoption of a non-equity partnership structure, was moving ahead with the two-tiered system, with rumblings that Paul Weiss might join this year. We wrote many years ago about the glut of senior associates facing an impending exit from Biglaw as the […]
Who is Better Compensated: Elite Biglaw Partners or Top General Counsel? (2023 Update)
It’s no secret that it pays to be a Biglaw equity partner. A 2022 survey of partners in “NLJ 350- and Global 100-size firms” found average compensation of $1.12 million, a 15% increase over the average in the prior survey conducted in 2020. Seven-figure compensation is nothing to sneeze at, but as with professional sports […]
Testing the Market as a Law Firm Partner
If you are a law firm partner, there are many reasons why you might consider switching firms. A competitor may offer a better platform and stronger bench, enabling you to serve your clients more effectively and ultimately generate more business. Another firm may feature a different geographic footprint that could better align with your practice […]