Biglaw, Partner Issues

Stats Of The Week: The Last Of The True Biglaw Partnerships

As Biglaw begins to run itself more like a “business,” vestiges of the traditional law partnership have started to fall away.

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biglaw jumping for joyAs Biglaw begins to run itself more like a “business,” vestiges of the traditional law partnership have started to fall away. According to NALP, just over one-third of law firms had a two-tiered (equity/non-equity) partnership structure in 1995. That percentage rose to 47 percent in 2001, and 67 percent in 2009. By 2009, about 75% of firms with 100+ lawyers had a two-tiered system. More recently, with the release of the 2016 Am Law 100 findings, it appears the prevalence of two-tiered systems is increasing. Only 18 firms in the latest Am Law 100 retain the traditional “pure” equity partnership model. Behold: these firms are the last of the old guard:

  • Arnold & Porter
  • Ballard Spahr
  • Cleary Gottlieb
  • Covington
  • Cravath
  • Davis Polk
  • Debevoise
  • Paul Weiss
  • Ropes & Gray
  • Schulte Roth
  • Simpson Thacher
  • Skadden
  • Steptoe & Johnson
  • Sullivan & Cromwell
  • Wachtell
  • WilmerHale
  • Williams & Connolly
  • Willkie Farr

(Source: The American Lawyer)

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