A slice of the pie – keeping lawyers motivated as equity ranks shrink
For disgruntled lawyers increasingly worried about whether they will ever join the hallowed ranks of their firm's equity partnership, DWF and Wragge & Co are helpful case studies on the sometimes polarised attitudes of legal sector employers. DWF has gatecrashed the UK top 20 following a spurt of mergers, including the pre-pack purchase of Cobbetts, but it has the lowest equity partner proportion of any firm in the top 50. Out of an average partner number last year of 285, only 59 held equity, just 21% of the partnership.
September 19, 2013 at 07:03 PM
10 minute read
With more and more law firms reducing their equity partner ratios, Gerard Starkey speaks to leading practices about their conflicting views on the trend and asks how they can avoid mutiny in the ranks of unhappy 'up and comers'
For disgruntled lawyers increasingly worried about whether they will ever join the hallowed ranks of their firm's equity partnership, DWF and Wragge & Co are helpful case studies on the sometimes polarised attitudes of legal sector employers.
DWF has gatecrashed the UK top 20 following a spurt of mergers, including the pre-pack purchase of Cobbetts, but it has the lowest equity partner proportion of any firm in the top 50. Out of an average partner number last year of 285, only 59 held equity, just 21% of the partnership.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 4What We Know About the Kentucky Judge Killed in His Chambers
- 5'I'm Staying Everything': Texas Bankruptcy Judge Halts Talc Trials Against J&J
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250