Biglaw

Top 10 Biglaw Firm Doubles Down On All-Equity Partnership

The firm says its all-equity structure is key to its culture -- and its competitiveness.

Biglaw firms with single partnership tiers are now few and far between, with more big-name firms showing that they’re ready, willing, and able to welcome nonequity partners to their ranks. One top Biglaw firm, however, recently decided to stay true to its single-tier partnership model, announcing a near-record size, all-equity partnership.

This summer, we reported that Ropes & Gray, the #7 firm in the country by gross revenue, had been flirting with creating a nonequity partnership tier. This was in the wake of other storied firms welcoming nonequity partners to their ranks in recent years, starting in November 2023 when Cravath created a “salaried partner tier.” That move gave other highly ranked firms permission to tread the same path, including Paul Weiss, which announced its new two-tier partnership plan in March 2024; WilmerHale, which added a nonequity partnership tier in August 2024; Cleary, which announced its own new partnership platform in October 2024; Skadden, which began considering a nonequity level in February 2025; Schulte Roth & Zabel, which announced an income partnership tier in March 2025; and Debevoise, which created its nonequity partnership track in June 2025.

In September, a member of the firm’s policy committee said it would be “premature” to say the firm would be incorporating a nonequity partnership tier. With the firm mulling the addition of non-equity partnership track, we wondered what the future may hold for the elite firm. With the announcement of its latest partnership class, we now know that Ropes is still on board with a single-tier partnership.

As noted by the American Lawyer, the firm was only able to come to this decision following what firm chair Julie Jones described as a “rigorous” process. Here’s a peek into what that process involved at Ropes & Gray:

Jones said [it] involved looking at the firm’s partner cohort, its talent retention and the progression rate to partner.

The firm also looked at its peers and their partnership cohorts by seniority, and did case studies of peers, including firms that recently decided to move to a two-tier structure, she said. (Cleary Gottlieb Steen & Hamilton; Wilmer Cutler Pickering Hale and Dorr; and Debevoise & Plimpton are among those that have recently adopted a second tier.)

Ropes partners were also surveyed, and they participated in group discussions, Jones said, noting that the firm also interviewed clients on the issue. “We believe in making decisions that involve sufficient analysis. We did not see that a multi-tier partnership was causative to performance,” she said.

Jones said that the firm will not be revisiting the partnership tier issue in 2026, or anytime in the near future. She offered a statement on the matter, saying, “A unified partnership enables Ropes to deliver the best service and outcome for clients, build the most talented lawyer base in elite law, and maintain our special culture. We pride ourselves on the mantra: ‘one firm, one partnership, one focus: our clients.’”

Ropes welcomed a partnership class of 21 on Monday, coming close to its record of 24 new partners in 2021. The firm prominently named each of its new partners in a welcome notice, even providing photos and bios of each of its talented attorneys. When asked if the firm would ever consider pulling a stunt like that or Kirkland & Ellis — which declined to name its 2025 partnership class — Jones answered honestly, saying she could never see Ropes doing such a thing. “We are really proud,” she said. “You have the emotional moments with these colleagues.”

Congratulations to Ropes & Gray on committing to a single-tier partnership, and congratulations to each of the firm’s new partners. This decision makes the firms stand out among its peers, and as noted by Jones, is now a real “differentiation” in the Biglaw landscape.

Is your firm planning to increase its nonequity partnership ranks? Please please text us (646-820-8477) or email us and let us know. Thanks.

Ropes, Recommitting to Single Tier After a ‘Rigorous Process,’ Makes Fresh Round of Partner Promotions [American Lawyer]

Earlier: Top 10 Biglaw Firm To Remain A Single-Tier Partnership — For Now

Top 10 Biglaw Firm Is Considering Creating A Nonequity Partnership Tier


Staci Zaretsky is the managing editor of 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 BlueskyX/Twitter, and Threads, or connect with her on LinkedIn.