Credit: rudall30/Adobe Stock 'Underwriting' Laterals Stokes Tension Among Nonequity Partners
Although pay for equity partners is going up, "we are seeing some firms that are not raising compensation for nonequity partners or, in some cases, cutting comp," observed a recruiter.
September 13, 2024 at 05:00 AM
5 minute read
Law Firm Partners
What You Need to Know
- Some law firm recruiters say they're hearing from more income partners who are frustrated about lateral partner activity.
- 'We do see some unrest among the nonequity ranks, where people feel like the nonequity partners aren't getting any love,' one recruiter said.
- However, others say there will always be complaints from nonequity partners about their positioning relative to the equity tier.
As the price for high-profile laterals in Big Law increases in the legal market, some partners are growing increasingly frustrated.
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