Is making biglaw income partner worth it?

[Anonymous]

At my old firm, nonequity partners made 350K + bonus (if you met your billable target - which was tough b/c of all the BD and other firm requirements). So in the end, you could end up making less than senior associates who got their full bonus.

[Anonymous]

DH is an equity partner and he genuinely likes his job. I interact with many law firm partners and it’s quite obvious (perhaps even more so to a non-lawyer) who enjoys their work (the way they talk about it, how happy they seem) and who doesn’t.

I look at the families with a law firm partner who is overworked and miserable, and I think, man, WHY? Totally not worth the misery.

On the other hand for those who enjoy it, yes it’s worth it. More hours and stress than a government job but 15x the money, and tons of flexibility.

[Anonymous]

Anonymous wrote:DH is an equity partner and he genuinely likes his job. I interact with many law firm partners and it’s quite obvious (perhaps even more so to a non-lawyer) who enjoys their work (the way they talk about it, how happy they seem) and who doesn’t.

I look at the families with a law firm partner who is overworked and miserable, and I think, man, WHY? Totally not worth the misery.

On the other hand for those who enjoy it, yes it’s worth it. More hours and stress than a government job but 15x the money, and tons of flexibility.

We're all thrilled that your husband is happy. But your response is irrelevant fluff that has nothing to do with and doesn't even attempt to answer OP's question.

[Anonymous]

Anonymous wrote:

Anonymous wrote:DH is an equity partner and he genuinely likes his job. I interact with many law firm partners and it’s quite obvious (perhaps even more so to a non-lawyer) who enjoys their work (the way they talk about it, how happy they seem) and who doesn’t.

I look at the families with a law firm partner who is overworked and miserable, and I think, man, WHY? Totally not worth the misery.

On the other hand for those who enjoy it, yes it’s worth it. More hours and stress than a government job but 15x the money, and tons of flexibility.

We're all thrilled that your husband is happy. But your response is irrelevant fluff that has nothing to do with and doesn't even attempt to answer OP's question.

Ok, to be more clear: he has more responsibility but way, way more flexibility. Almost no late nights and, since making partner, only misses family dinner (at 6pm) like once every few months. And his income is at least four times what it was as a senior associate. For him, and others at his firm, being a partner is dramatically better in terms of work-life balance than being an associate, and the money is the cherry on top. However, the flexibility alone wouldn’t be worth it if he didn’t actually enjoy the work, and if someone doesn’t enjoy the work as an associate, that’s not going to magically change when one makes partner.

I know spouses of law partners answering here always get bashed, but I’m just sharing what I know and attempting to answer the question.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The good firms don’t have non equity partners, and at them, it’s far more than double the salary for of counsel/senior associate - from 450 plus bonus to 950 plus bonus. So, yes, it’s worth it at those firms. Maybe not at yours.

Most top firms have NE partners now. The model is shifting to more NE.

Yes, most do. That was my point. If you can get in at one that does not - do that.

[Anonymous]

PP from above here, and I just saw the thread says “income partner”, and I admit I did not answer that at all!

Being an income partner is just like being a senior associate with a fancy title. For many it’s a step on the way to equity or a promotion that helps one make a lateral move.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is an equity partner and he genuinely likes his job. I interact with many law firm partners and it’s quite obvious (perhaps even more so to a non-lawyer) who enjoys their work (the way they talk about it, how happy they seem) and who doesn’t.

I look at the families with a law firm partner who is overworked and miserable, and I think, man, WHY? Totally not worth the misery.

On the other hand for those who enjoy it, yes it’s worth it. More hours and stress than a government job but 15x the money, and tons of flexibility.

We're all thrilled that your husband is happy. But your response is irrelevant fluff that has nothing to do with and doesn't even attempt to answer OP's question.

Ok, to be more clear: he has more responsibility but way, way more flexibility. Almost no late nights and, since making partner, only misses family dinner (at 6pm) like once every few months. And his income is at least four times what it was as a senior associate. For him, and others at his firm, being a partner is dramatically better in terms of work-life balance than being an associate, and the money is the cherry on top. However, the flexibility alone wouldn’t be worth it if he didn’t actually enjoy the work, and if someone doesn’t enjoy the work as an associate, that’s not going to magically change when one makes partner.

I know spouses of law partners answering here always get bashed, but I’m just sharing what I know and attempting to answer the question.

Your happy husband isn't an income partner! He's an equity partner! Please go away and get back to your "stories" . . .

[Anonymous]

Anonymous wrote:I am a non-equity partner. I make $900k.
Yes, it's worth it to me. Depends on your firm's culture and what you are looking for in a career.
Happy to answer other questions.

Was $900k the amt you made right away as non equity partner? Do you expect to become equity? If so, how soon?

[Anonymous]

My DH just got an offer for income partner at V50 firm that is pretty good (600K plus bonus) and with the expectation that he would be put up for equity partner within a few years. Who knows how many of the people they bring in as income partners actually make equity partners, though.

[Anonymous]

Anonymous wrote:DH is an equity partner and he genuinely likes his job. I interact with many law firm partners and it’s quite obvious (perhaps even more so to a non-lawyer) who enjoys their work (the way they talk about it, how happy they seem) and who doesn’t.

I look at the families with a law firm partner who is overworked and miserable, and I think, man, WHY? Totally not worth the misery.

On the other hand for those who enjoy it, yes it’s worth it. More hours and stress than a government job but 15x the money, and tons of flexibility.

I feel so much second hand embarrassment whenever I see a woman respond to a career question by talking about her husband's career.

[Anonymous]

I am honestly negotiating this right now and would love any other data points for non-equity partner these days. Assume equity is a real possibility in 1-3 years (and top 10 Amlaw firm w/ high PPP - not Kirkland).

[Anonymous]

Anonymous wrote:I am a non-equity partner. I make $900k.
Yes, it's worth it to me. Depends on your firm's culture and what you are looking for in a career.
Happy to answer other questions.

Do you make $900k including bonus? Or $900k plus bonus? Did you start out when you first became non equity partner making $900k or was it less and overtime it went up?

[Anonymous]

Anonymous wrote:

Anonymous wrote:DH is an equity partner and he genuinely likes his job. I interact with many law firm partners and it’s quite obvious (perhaps even more so to a non-lawyer) who enjoys their work (the way they talk about it, how happy they seem) and who doesn’t.

I look at the families with a law firm partner who is overworked and miserable, and I think, man, WHY? Totally not worth the misery.

On the other hand for those who enjoy it, yes it’s worth it. More hours and stress than a government job but 15x the money, and tons of flexibility.

I feel so much second hand embarrassment whenever I see a woman respond to a career question by talking about her husband's career.

+1. Yikes!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is an equity partner and he genuinely likes his job. I interact with many law firm partners and it’s quite obvious (perhaps even more so to a non-lawyer) who enjoys their work (the way they talk about it, how happy they seem) and who doesn’t.

I look at the families with a law firm partner who is overworked and miserable, and I think, man, WHY? Totally not worth the misery.

On the other hand for those who enjoy it, yes it’s worth it. More hours and stress than a government job but 15x the money, and tons of flexibility.

I feel so much second hand embarrassment whenever I see a woman respond to a career question by talking about her husband's career.

+1. Yikes!

How do you know it's not a man married to another man? Also, isn't part of the freedom to control your own destiny the freedom to choose to be a SAH spouse? No need to be so judgmental.

--- a female law partner married to a man who stayed home when the kids were young

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is an equity partner and he genuinely likes his job. I interact with many law firm partners and it’s quite obvious (perhaps even more so to a non-lawyer) who enjoys their work (the way they talk about it, how happy they seem) and who doesn’t.

I look at the families with a law firm partner who is overworked and miserable, and I think, man, WHY? Totally not worth the misery.

On the other hand for those who enjoy it, yes it’s worth it. More hours and stress than a government job but 15x the money, and tons of flexibility.

I feel so much second hand embarrassment whenever I see a woman respond to a career question by talking about her husband's career.

+1. Yikes!

How do you know it's not a man married to another man? Also, isn't part of the freedom to control your own destiny the freedom to choose to be a SAH spouse? No need to be so judgmental.

--- a female law partner married to a man who stayed home when the kids were young

Because it sounds like a woman and the overwhelming statistical likelihood is that it’s a woman.