How much do big law partners make?

[Anonymous]

Anonymous wrote:They start around 800k and make 1-15M. The president of the big law firm would be the one making around 15M. Most of them are in the 1-5M range.

The president? Huh?

Clearly, you have no idea what you’re talking about

[Anonymous]

Anonymous wrote:I am CPA for many Big Law partners in DC and the range is anywhere from 2M - 12M from what I have personally seen.

Those over 7M work more in the M&A and Anti-Trust side for the largest of transactions.

They work like dogs and many of them are burnt out by 50 but the golden handcuffs keep them chugging along.

I understand that you have good reason to know how much money they are making, what with you doing their taxes and all, but how the hell do you know how hard they’re all working?

[Anonymous]

Anonymous wrote:

Anonymous wrote:So, a few things that might help you put this into perspective:

- Not all partners are equity partners, which is what you usually think of when you think of a law firm partner. In recent years, more firms have started naming "income" or "non-equity" partners. These individuals are called partners but they are more like counsel/associates in terms of their pay. Most of their income comes from their salary, and then they are eligible for bonuses. Income partners can make as little as 300k before bonus. Their bonuses are more similar to a senior associate or counsel bonus and will usually be based on billable hours.

- An equity partner is a co-owner in the firm and is usually compensated via a combination of base pay and bonus, which for partners is more like a profit payment -- as co-owners in the firm, they earn a percentage of the firm's profits. The bonus usually constitutes the majority of their pay and is why partner comp at most firms varies so much. It can vary year to year based on firm profits -- in a good year partners will make more, and in a bad year less, and this is much more true for equity partners than for associates/counsel, who are generally given a predictable bonus based on billable hours and seniority (thought they are sometimes given a special bonus on top of this if the firm had a really good year). It can also vary from person to person, as the vast majority of firms vary bonuses based on things like origination credit (the partner who brought in the client), billable hours (both their hours and sometimes also the total billables of the teams they oversee), seniority, and other factors. Usually there is a compensation committee that will make these determinations and it's generally more of an art than a science. Partner compensation can be hugely political within firms.

Which is why you see massive differences in pay from partner to partner, even within the same firm. There is a big difference in pay between income and equity partners, and then additionally a big difference between partners who have originated a lot of clients ("rainmakers") and those who mostly maintain relationships with existing clients ("maintenance" or "relationship" partners). There is also a question about shared origination credit. Traditionally, the most senior partner on a pitch team will get the origination credit, but the team may include several partners, including the partner who will wind up doing or overseeing most of the work for the client. This senior partner can sometimes be at a phase in their career where they no longer bill many hours at all, but their name and reputation is critical for bringing in new clients or expanding the scope of work with existing clients, and this can generate resentment among younger partners who do not or cannot originate new clients on their own, but have high billables and are responsible for keeping clients happy (a hard, demanding job). Many firms now are examine a shared origination credit to help more fairly allocate credit, and thus money, derived from specific clients.

+1 none of our senior partners will leave. And with no age limitation, they have no incentive to do so as they continue to make $$$.

Anecdotal, but we know a partner who was asked to leave after about two decades of minimal work.

[Anonymous]

At my firm the range is about $2-20 million, with most falling in the $4-8 million range.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am CPA for many Big Law partners in DC and the range is anywhere from 2M - 12M from what I have personally seen.

Those over 7M work more in the M&A and Anti-Trust side for the largest of transactions.

They work like dogs and many of them are burnt out by 50 but the golden handcuffs keep them chugging along.

I understand that you have good reason to know how much money they are making, what with you doing their taxes and all, but how the hell do you know how hard they’re all working?

...because I have a relationship with them and talk about it?? I know their kids. We've worked together for years and I need to communicate with them very regularly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am CPA for many Big Law partners in DC and the range is anywhere from 2M - 12M from what I have personally seen.

Those over 7M work more in the M&A and Anti-Trust side for the largest of transactions.

They work like dogs and many of them are burnt out by 50 but the golden handcuffs keep them chugging along.

I understand that you have good reason to know how much money they are making, what with you doing their taxes and all, but how the hell do you know how hard they’re all working?

...because I have a relationship with them and talk about it?? I know their kids. We've worked together for years and I need to communicate with them very regularly.

It's a little unusual to have that kind of relationship with multiple clients. I am a biglaw partner and communicate with my accountants a few times per year at most, and they would have no occasion to meet my kids. It's a professional relationship.

[Anonymous]

Anonymous wrote:Why is anyone making millions of dollars per year unless you started a company?

AI will replace most of these legal jobs anyway.

Agree but not biglaw jobs and not biglaw partner jobs. Big law at the top and middle is about bet the company work. AI will take out a lot but someone has to run the AI.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All these DH’s. Hope there are some women out there!

I don’t think you know what you’re wishing for. This is not a motherhood friendly life.

I am a BigLaw mom and have been a partner for 12 years at a top firm. It is absolutely do-able to be a BigLaw mom and be very present in your kids’ lives (room parent, attend nearly every game or show, home for bedtime, emotionally present). After years of hearing the complaining by the spouses of (mostly) men in BigLaw I have come to the conclusion that these men that are being complained about are just affirmatively choosing to not be present or do the hard work for family matters. They can attend the big events, they can help out around the house, they can help with carpool, they can carry the mental load, they can attend the function. They are just choosing not to. It’s a crutch. They just don’t want to do it so they blame work. Ask any rockstar mom. We are used to doing it all. I enjoy my job, I love my kids, I have fun with my friends, I take vacation. It is do-able. If it’s not it’s because you don’t want to (no judgment there), you have poor time management skills, or you’re at the wrong firm. Caveat here that I am not one of the $5M plus earners. I do agree that once you get to the 7-10M+ category, the stakes are raised significantly.

How many hours are you billing? I disagree with your post. Most biglaw partners can’t just miss a closing in Paris because it’s their kids field trip or soccer championship or birthday. It’s not a default parent compatible career. Most partners are working around the clock. And it’s not predictable. Things will be slower at times - meaning you’re probably just working most of the day, and at least part of the day on vacations - and then other times, you’ll be working until 3am when a deal is closing, and canceling any preplanned plans.

Biglaw Dad here. White collar defense. Global practice -- 20 plus years as partner. I agree with BigLaw mom and have done all of the stuff she has done. Are there some times I can't -- yes -- criminal trials a couple of times in another city. Travel a lot in general. But once you hit a level you can control a lot about the schedule. Not all the time but enough to make it mostly work. I have been at a couple of firms and I do not understand the partners that are not present for the kids absent some big issue.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All these DH’s. Hope there are some women out there!

I don’t think you know what you’re wishing for. This is not a motherhood friendly life.

I am a BigLaw mom and have been a partner for 12 years at a top firm. It is absolutely do-able to be a BigLaw mom and be very present in your kids’ lives (room parent, attend nearly every game or show, home for bedtime, emotionally present). After years of hearing the complaining by the spouses of (mostly) men in BigLaw I have come to the conclusion that these men that are being complained about are just affirmatively choosing to not be present or do the hard work for family matters. They can attend the big events, they can help out around the house, they can help with carpool, they can carry the mental load, they can attend the function. They are just choosing not to. It’s a crutch. They just don’t want to do it so they blame work. Ask any rockstar mom. We are used to doing it all. I enjoy my job, I love my kids, I have fun with my friends, I take vacation. It is do-able. If it’s not it’s because you don’t want to (no judgment there), you have poor time management skills, or you’re at the wrong firm. Caveat here that I am not one of the $5M plus earners. I do agree that once you get to the 7-10M+ category, the stakes are raised significantly.

How many hours are you billing? I disagree with your post. Most biglaw partners can’t just miss a closing in Paris because it’s their kids field trip or soccer championship or birthday. It’s not a default parent compatible career. Most partners are working around the clock. And it’s not predictable. Things will be slower at times - meaning you’re probably just working most of the day, and at least part of the day on vacations - and then other times, you’ll be working until 3am when a deal is closing, and canceling any preplanned plans.

Biglaw Dad here. White collar defense. Global practice -- 20 plus years as partner. I agree with BigLaw mom and have done all of the stuff she has done. Are there some times I can't -- yes -- criminal trials a couple of times in another city. Travel a lot in general. But once you hit a level you can control a lot about the schedule. Not all the time but enough to make it mostly work. I have been at a couple of firms and I do not understand the partners that are not present for the kids absent some big issue.

I'm not a BigLaw partner, but a partner at consulting firm. Comp is pretty similar to what we're talking about here (7 figures).

I completely agree with this post. As you get older and more experienced you get a lot more efficient and, critically, can control or at least influence the schedule of things. Being present for your family and kids is 100% doable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All these DH’s. Hope there are some women out there!

I don’t think you know what you’re wishing for. This is not a motherhood friendly life.

I am a BigLaw mom and have been a partner for 12 years at a top firm. It is absolutely do-able to be a BigLaw mom and be very present in your kids’ lives (room parent, attend nearly every game or show, home for bedtime, emotionally present). After years of hearing the complaining by the spouses of (mostly) men in BigLaw I have come to the conclusion that these men that are being complained about are just affirmatively choosing to not be present or do the hard work for family matters. They can attend the big events, they can help out around the house, they can help with carpool, they can carry the mental load, they can attend the function. They are just choosing not to. It’s a crutch. They just don’t want to do it so they blame work. Ask any rockstar mom. We are used to doing it all. I enjoy my job, I love my kids, I have fun with my friends, I take vacation. It is do-able. If it’s not it’s because you don’t want to (no judgment there), you have poor time management skills, or you’re at the wrong firm. Caveat here that I am not one of the $5M plus earners. I do agree that once you get to the 7-10M+ category, the stakes are raised significantly.

How many hours are you billing? I disagree with your post. Most biglaw partners can’t just miss a closing in Paris because it’s their kids field trip or soccer championship or birthday. It’s not a default parent compatible career. Most partners are working around the clock. And it’s not predictable. Things will be slower at times - meaning you’re probably just working most of the day, and at least part of the day on vacations - and then other times, you’ll be working until 3am when a deal is closing, and canceling any preplanned plans.

Biglaw Dad here. White collar defense. Global practice -- 20 plus years as partner. I agree with BigLaw mom and have done all of the stuff she has done. Are there some times I can't -- yes -- criminal trials a couple of times in another city. Travel a lot in general. But once you hit a level you can control a lot about the schedule. Not all the time but enough to make it mostly work. I have been at a couple of firms and I do not understand the partners that are not present for the kids absent some big issue.

DH is a BigLaw partner and can show up for games, performances, awards at school, whatever.

That doesn’t negate all the early mornings, late nights, weekends and hours on vacation he has spent putting out some fire or another. It’s grueling and relentless and the clients don’t care - they just want it DONE.

The kids are fine. I am okay but I miss him. We have a nice life. But it’s so much for him and I worry about him.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All these DH’s. Hope there are some women out there!

I don’t think you know what you’re wishing for. This is not a motherhood friendly life.

I am a BigLaw mom and have been a partner for 12 years at a top firm. It is absolutely do-able to be a BigLaw mom and be very present in your kids’ lives (room parent, attend nearly every game or show, home for bedtime, emotionally present). After years of hearing the complaining by the spouses of (mostly) men in BigLaw I have come to the conclusion that these men that are being complained about are just affirmatively choosing to not be present or do the hard work for family matters. They can attend the big events, they can help out around the house, they can help with carpool, they can carry the mental load, they can attend the function. They are just choosing not to. It’s a crutch. They just don’t want to do it so they blame work. Ask any rockstar mom. We are used to doing it all. I enjoy my job, I love my kids, I have fun with my friends, I take vacation. It is do-able. If it’s not it’s because you don’t want to (no judgment there), you have poor time management skills, or you’re at the wrong firm. Caveat here that I am not one of the $5M plus earners. I do agree that once you get to the 7-10M+ category, the stakes are raised significantly.

How many hours are you billing? I disagree with your post. Most biglaw partners can’t just miss a closing in Paris because it’s their kids field trip or soccer championship or birthday. It’s not a default parent compatible career. Most partners are working around the clock. And it’s not predictable. Things will be slower at times - meaning you’re probably just working most of the day, and at least part of the day on vacations - and then other times, you’ll be working until 3am when a deal is closing, and canceling any preplanned plans.

Biglaw Dad here. White collar defense. Global practice -- 20 plus years as partner. I agree with BigLaw mom and have done all of the stuff she has done. Are there some times I can't -- yes -- criminal trials a couple of times in another city. Travel a lot in general. But once you hit a level you can control a lot about the schedule. Not all the time but enough to make it mostly work. I have been at a couple of firms and I do not understand the partners that are not present for the kids absent some big issue.

DH is a BigLaw partner and can show up for games, performances, awards at school, whatever.

That doesn’t negate all the early mornings, late nights, weekends and hours on vacation he has spent putting out some fire or another. It’s grueling and relentless and the clients don’t care - they just want it DONE.

The kids are fine. I am okay but I miss him. We have a nice life. But it’s so much for him and I worry about him.

Sure -- but that is the job. And most love it even if they say they do not. It is a thrill to walk into a room and take charge int he middle of a major mess. That's why you do the job. And the money of course. But if it is just the money it can't be done for long.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All these DH’s. Hope there are some women out there!

I don’t think you know what you’re wishing for. This is not a motherhood friendly life.

I am a BigLaw mom and have been a partner for 12 years at a top firm. It is absolutely do-able to be a BigLaw mom and be very present in your kids’ lives (room parent, attend nearly every game or show, home for bedtime, emotionally present). After years of hearing the complaining by the spouses of (mostly) men in BigLaw I have come to the conclusion that these men that are being complained about are just affirmatively choosing to not be present or do the hard work for family matters. They can attend the big events, they can help out around the house, they can help with carpool, they can carry the mental load, they can attend the function. They are just choosing not to. It’s a crutch. They just don’t want to do it so they blame work. Ask any rockstar mom. We are used to doing it all. I enjoy my job, I love my kids, I have fun with my friends, I take vacation. It is do-able. If it’s not it’s because you don’t want to (no judgment there), you have poor time management skills, or you’re at the wrong firm. Caveat here that I am not one of the $5M plus earners. I do agree that once you get to the 7-10M+ category, the stakes are raised significantly.

How many hours are you billing? I disagree with your post. Most biglaw partners can’t just miss a closing in Paris because it’s their kids field trip or soccer championship or birthday. It’s not a default parent compatible career. Most partners are working around the clock. And it’s not predictable. Things will be slower at times - meaning you’re probably just working most of the day, and at least part of the day on vacations - and then other times, you’ll be working until 3am when a deal is closing, and canceling any preplanned plans.

Biglaw Dad here. White collar defense. Global practice -- 20 plus years as partner. I agree with BigLaw mom and have done all of the stuff she has done. Are there some times I can't -- yes -- criminal trials a couple of times in another city. Travel a lot in general. But once you hit a level you can control a lot about the schedule. Not all the time but enough to make it mostly work. I have been at a couple of firms and I do not understand the partners that are not present for the kids absent some big issue.

DH is a BigLaw partner and can show up for games, performances, awards at school, whatever.

That doesn’t negate all the early mornings, late nights, weekends and hours on vacation he has spent putting out some fire or another. It’s grueling and relentless and the clients don’t care - they just want it DONE.

The kids are fine. I am okay but I miss him. We have a nice life. But it’s so much for him and I worry about him.

Sure -- but that is the job. And most love it even if they say they do not. It is a thrill to walk into a room and take charge int he middle of a major mess. That's why you do the job. And the money of course. But if it is just the money it can't be done for long.

Most do not “love it” - but it’s really hard to change jobs when law firm experience is all you have.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All these DH’s. Hope there are some women out there!

I don’t think you know what you’re wishing for. This is not a motherhood friendly life.

I am a BigLaw mom and have been a partner for 12 years at a top firm. It is absolutely do-able to be a BigLaw mom and be very present in your kids’ lives (room parent, attend nearly every game or show, home for bedtime, emotionally present). After years of hearing the complaining by the spouses of (mostly) men in BigLaw I have come to the conclusion that these men that are being complained about are just affirmatively choosing to not be present or do the hard work for family matters. They can attend the big events, they can help out around the house, they can help with carpool, they can carry the mental load, they can attend the function. They are just choosing not to. It’s a crutch. They just don’t want to do it so they blame work. Ask any rockstar mom. We are used to doing it all. I enjoy my job, I love my kids, I have fun with my friends, I take vacation. It is do-able. If it’s not it’s because you don’t want to (no judgment there), you have poor time management skills, or you’re at the wrong firm. Caveat here that I am not one of the $5M plus earners. I do agree that once you get to the 7-10M+ category, the stakes are raised significantly.

How many hours are you billing? I disagree with your post. Most biglaw partners can’t just miss a closing in Paris because it’s their kids field trip or soccer championship or birthday. It’s not a default parent compatible career. Most partners are working around the clock. And it’s not predictable. Things will be slower at times - meaning you’re probably just working most of the day, and at least part of the day on vacations - and then other times, you’ll be working until 3am when a deal is closing, and canceling any preplanned plans.

Biglaw Dad here. White collar defense. Global practice -- 20 plus years as partner. I agree with BigLaw mom and have done all of the stuff she has done. Are there some times I can't -- yes -- criminal trials a couple of times in another city. Travel a lot in general. But once you hit a level you can control a lot about the schedule. Not all the time but enough to make it mostly work. I have been at a couple of firms and I do not understand the partners that are not present for the kids absent some big issue.

DH is a BigLaw partner and can show up for games, performances, awards at school, whatever.

That doesn’t negate all the early mornings, late nights, weekends and hours on vacation he has spent putting out some fire or another. It’s grueling and relentless and the clients don’t care - they just want it DONE.

The kids are fine. I am okay but I miss him. We have a nice life. But it’s so much for him and I worry about him.

Sure -- but that is the job. And most love it even if they say they do not. It is a thrill to walk into a room and take charge int he middle of a major mess. That's why you do the job. And the money of course. But if it is just the money it can't be done for long.

Most do not “love it” - but it’s really hard to change jobs when law firm experience is all you have.

New poster here — I don’t even like it, let alone love it. I only do it for the money. Period. And I’ll retire early.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am CPA for many Big Law partners in DC and the range is anywhere from 2M - 12M from what I have personally seen.

Those over 7M work more in the M&A and Anti-Trust side for the largest of transactions.

They work like dogs and many of them are burnt out by 50 but the golden handcuffs keep them chugging along.

I understand that you have good reason to know how much money they are making, what with you doing their taxes and all, but how the hell do you know how hard they’re all working?

...because I have a relationship with them and talk about it?? I know their kids. We've worked together for years and I need to communicate with them very regularly.

Baloney.

[Anonymous]

$2million, year 4, equity