If you think that making partner is like winning the Biglaw race, you haven’t actually been paying attention to what’s been happening to partners over the past few years. Sure, Biglaw partnerships overall are enjoying higher profits now than they were during the darkest days of the recession (while associate salaries remain stagnant, of course). But average “profits per partner” numbers can be misleading.
Steven Harper, the former Kirkland & Ellis partner turned law professor, writes that the income gap between the top earning partners and everybody else is “exploding.” It’s never been more lucrative to have a nice book of business.
And to keep it for yourself….