Credit: Andrey Popov / AdobeStock Firms Confront Tough Questions About Single-Tier Partnerships in Wake of Surging Profits
The decision to add a non-equity tier is often a play to compete for senior associate and counsel-level talent by offering the title of partner without diluting shares of the firm's equity, so firms can continue to pay for top-performing talent.
October 31, 2023 at 05:00 AM
6 minute read
The financial performance of the U.S.'s highest earning law firms over the last three years has highlighted the disparities in profitability between different practice areas. As profits have grown, these firms have questioned whether their equity tier of partners can sustain such wide disparities in financial contribution.
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