“The bar is constantly getting higher and higher to become an equity partner at a law firm,” one source said.
There’s no doubt many firms put together outstanding financial performances last year. Still, many bottom lines are getting a boost from flat or negative equity partner growth.
Am Law 100 firms have kept a tight grip on the brass ring lately. While nonequity tiers have continued to balloon, the top-100 equity partner total slightly declined in 2023. And it appears that trend continued through 2024, whether it was due to retirements, lateral exits, de-equitizations, closer management of the partnership, or all of the above.
