(Credit: Ramcreative/Adobe Stock) Nonequity Partner Growth Kicks Into High Gear
Several Am Law 100 firms grew their income partner ranks by double-digit percentages in 2023. Multiple factors are pushing firms to rapidly expand this tier of partners, observers say.
March 26, 2024 at 05:00 AM
7 minute read
What You Need to Know
- Several Am Law 100 firms grew their income partner ranks double-digits in 2023.
- Among some of the largest percentage gains are Milbank (51%), Gibson Dunn (44%) and Fried Frank (44%).
- Several firms are beginning with lower nonequity numbers, so the proportional gains are large. However, firm leaders also said their growth was intentional and aimed at retention.
Last year saw a "staggering" jump in the number of law firm leaders who said they wanted to increase their nonequity tier going forward, according to one industry analysis.
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