Biglaw, Partner Profits

Who wants to be a millionaire? Meet Wachtell's new partners. (And send us news about new partners at your firm.)

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Yesterday was Election Day not just for the nation, but also for Wachtell, Lipton, Rosen & Katz. Wachtell, one of the country’s most prestigious and profitable law firms, traditionally elects its new partners on the Tuesday after the first Monday of November.

The firm just elected half a dozen new partners — a robust number, suggesting that things are going well at WLRK. Congratulations to our former colleagues Ian Boczko (litigation), Damian Didden (antitrust), Matthew Guest (corporate), David Kahan (executive compensation and benefits), David Lam (corporate), and Ante Vucic (corporate). They will become partners of the firm effective January 1, 2009.

Thanks to Wachtell’s insanely high profits and (roughly) lockstep compensation system, they will soon be millionaires. Back in the late 1990s, rumor had it that newly minted partners earned $1.5 million in their first year. The number must surely be higher today, since WLRK’s profits per partner are so much higher now — for 2007, PPP clocked in at a shade under $5 million (or $4.9 million, to be more precise).

We might start doing weekly round-ups of partnership announcements. If you’re at a major firm — say, Vault or Am Law 100 — and have partnership news to pass along, please email us (subject line: “New Partners”).

The full Wachtell Lipton memo, after the jump.


WACHTELL LIPTON ROSEN & KATZ — MEMORANDUM — NEW PARTNERS

November 4, 2008

Sponsored

TO: All Personnel

FROM:

Edward D. Herlihy

Daniel A. Neff

RE: New Partners

Sponsored

We are pleased to announce that Ian Boczko, Damian Didden, Matthew Guest, David Kahan, David Lam and Ante Vucic will become members of the Firm on January 1, 2009.

Congratulations!

E.D.H.

D.A.N.

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