Ed. note: Welcome to our daily feature, Quote of the Day.
The bar is constantly getting higher and higher to become an equity partner at a law firm, and I don’t see that changing.
— Jeff Lowe, senior managing partner and market president for Washington, D.C., consulting firm CenterPeak, in comments given to the American Lawyer, on the difficulties associated with becoming a Biglaw equity partner. With billing rates higher than ever before, firms have been able to make more revenue, and thus more profits per equity partner. Some firms are still none too eager to share the wealth, which has given rise to the nonequity partnership tier across Biglaw.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.