The number of nonequity partners has continued to grow at bellwether firms and branches in New Jersey, and now makes up nearly half of partner ranks.
“Before this phenomenon, it was an up-or-out [situation]—you had six, seven years, and if you didn’t make equity, you were gone,” according to Glenn Kazlow, administrative partner at Hackensack-based Cole Schotz, which began making nonequity partners about 25 years ago.
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