Ed. note: Welcome to our daily feature, Quote of the Day.
The trend is clearly: firms are becoming much more careful [about expanding in their equity tier.]
— Blane Prescott, a law firm consultant on compensation issues and managing shareholder at MesaFive, in comments given to the American Lawyer, concerning equity partner ranks remaining stagnant or decreasing in size among Am Laaw 200 firms. At the end of the day, this means more take-home cash for the equity partners who remain.
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 Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.