Non-Equity Partnership Isn’t A Fast Track To The Equity Tier
All Biglaw 'partners' are not created (or paid) equal.
All Biglaw 'partners' are not created (or paid) equal.
Biglaw's partnership prospects are changing, all because of Kirkland & Ellis.
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Debevoise had an all-equity partnership for all of its existence, but times have changed, and now the firm is changing too.
Ropes & Gray has had an all-equity partnership for all of its existence, but times have changed, and now the firm may need to change too.
SRZ had an all-equity partnership for all of its existence, but times have changed, and now the firm needs to change too.
You won't be shocked to find out that at most firms, it's all about the money.
A new proposal would let wealthy foreign nationals secure an opportunity for a U.S. green card with a $1 million 'gift' to the government, sparking legal and ethical debate.
Skadden has had an all-equity partnership for all of its existence, but times have changed, and now the firm may need to change too.
How many of the firm's new partners made equity versus nonequity? We'll never know.
The race is on.
'Partner' isn't the deal it used to be.
Those who’ve adopted legal-specific systems are seeing big benefits.
WilmerHale had an all-equity partnership for all of its existence, but times have changed, and now the firm needs to change too.
Paul Weiss had an all-equity partnership for nearly 100 years, but times have changed, and now the firm needs to change too.
On balance, equity partnership is likely still more rewarding in most cases. But for lawyers in certain situations, non-equity arrangements can have strong appeal.
In the current law firm landscape, the fact that a lawyer has been designated a partner often conveys very little about the economic arrangement between that lawyer and the firm.
This is a disturbing, though not unexpected trend.