Credit: xy/Adobe Stock 'Harder to Justify' Counsel Tiers in Big Law, Amid Focus on Nonequity Partners, Lateral Recruiting
"For a lot of firms, nonequity partners are replacing counsel to a large degree," noted one law firm recruiter.
July 25, 2024 at 05:00 AM
6 minute read
Law Firm Structure
What You Need to Know
- As firms add nonequity partners and focus on lateral recruiting, they may have less need for counsel ranks.
- Counsel tiers have tension with senior associate and junior nonequity partners in pay and promotions.
- Still, some firms are using the counsel tier as an umbrella term for multiple points in an attorney's career.
As many law firms increase their associate pay and add nonequity partners, they may leave an established rank of attorney in the dust. Counsel and of counsel roles used to be a stepping stone between associates and equity partners, but now nonequity partners may fill that role.
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