Law Partner Salary

[Anonymous]

Anonymous wrote:Really varies from firm to firm but outside of the top firms I’d say probably starts at around $300k but can go much higher - will likely be very dependent on your book.

This. I’m at $325 base and total comp is $575-$650.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Really varies from firm to firm but outside of the top firms I’d say probably starts at around $300k but can go much higher - will likely be very dependent on your book.

This. I’m at $325 base and total comp is $575-$650.

Are you an equity partner?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Really varies from firm to firm but outside of the top firms I’d say probably starts at around $300k but can go much higher - will likely be very dependent on your book.

This. I’m at $325 base and total comp is $575-$650.

Your base is lower than mine as a senior associate. And your total comp is right about what I make.

[Anonymous]

How about boutique firm partners? What’s typical there?

[Anonymous]

Boutique firm (about 25 lawyers, specialty practice). Most partners' base salaries are around $240,000. Profit distributions bring the lower equity partners to about $350,000, higher equity partners to about $800,000. Most are billing in the 1200-1500 hrs/year range, so it is pretty lifestyle friendly.

[Anonymous]

Range is really enormous. For NEP in AmLaw 50-100, typical range would be between $250 and $800, depending on a lot of factors including specialty. For equity, range is even wider, from $300 to many millions. It's really difficult to identify a typical example, but say a replacement level 30 year attorney in a litigation practice at a AmLaw 60-90 firm with average originations would be in the range of $800K to $1.5m.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Venable profits per partner is about $1.4 million. Troutman is about $1.9. Of course, this is equity, not NEP.

So do u get profit per partner as compensation? Not sure what NEP is?

That’s what the average equity partner brings home. Profits are the compensation (usually there’s a monthly draw and then a big “bonus” EOY). Non equity partner isn’t a real partner. They’re paid a salary and bonus. There’s much less transparency around non equity partner pay.

yep, at some firms like Kirkland NEP is just what they make 8th+ year associates.

[Anonymous]

Small niche firm - base is $325k @ 1500 hours, and total comp has ranged from $375k to $800k over the past 6 years. I'm trying to keep the workload as close to 1500 hours as possible, but in some years, it's just not possible due to too much volume.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Venable profits per partner is about $1.4 million. Troutman is about $1.9. Of course, this is equity, not NEP.

So do u get profit per partner as compensation? Not sure what NEP is?

That’s what the average equity partner brings home. Profits are the compensation (usually there’s a monthly draw and then a big “bonus” EOY). Non equity partner isn’t a real partner. They’re paid a salary and bonus. There’s much less transparency around non equity partner pay.

yep, at some firms like Kirkland NEP is just what they make 8th+ year associates.

What are they making as a percentage of collections? Are they working 2200 hours a year?

[Anonymous]

Anonymous wrote:Range is really enormous. For NEP in AmLaw 50-100, typical range would be between $250 and $800, depending on a lot of factors including specialty. For equity, range is even wider, from $300 to many millions. It's really difficult to identify a typical example, but say a replacement level 30 year attorney in a litigation practice at a AmLaw 60-90 firm with average originations would be in the range of $800K to $1.5m.

I don’t understand how the range could possible go that low for NEPs. 250 is literally $1000 LESS than a first-year associate makes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Venable profits per partner is about $1.4 million. Troutman is about $1.9. Of course, this is equity, not NEP.

So do u get profit per partner as compensation? Not sure what NEP is?

That’s what the average equity partner brings home. Profits are the compensation (usually there’s a monthly draw and then a big “bonus” EOY). Non equity partner isn’t a real partner. They’re paid a salary and bonus. There’s much less transparency around non equity partner pay.

yep, at some firms like Kirkland NEP is just what they make 8th+ year associates.

What are they making as a percentage of collections? Are they working 2200 hours a year?

Kirkland actually promotes to NEP at year 6 or 7.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Range is really enormous. For NEP in AmLaw 50-100, typical range would be between $250 and $800, depending on a lot of factors including specialty. For equity, range is even wider, from $300 to many millions. It's really difficult to identify a typical example, but say a replacement level 30 year attorney in a litigation practice at a AmLaw 60-90 firm with average originations would be in the range of $800K to $1.5m.

I don’t understand how the range could possible go that low for NEPs. 250 is literally $1000 LESS than a first-year associate makes.

Less than a 1st year associate makes at Cravath-scale firms. A lot of firms in the lower Amlaw 100 do not pay on that scale - and it makes sense that they don’t because they don’t have the rates/PPP that support it. Also that 250 is likely just the base- it could easily double or more based on originations.

[Anonymous]

Anonymous wrote:

Anonymous wrote:DH is $1.3-4 for a lower-lucrative practice, bills less than 1500.

International tax law?

There were partners like this at my firm too. Not many. And they didn’t get much respect. If the whole partnership did this the firm would fall apart.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is $1.3-4 for a lower-lucrative practice, bills less than 1500.

International tax law?

There were partners like this at my firm too. Not many. And they didn’t get much respect. If the whole partnership did this the firm would fall apart.

LOL, he brought in $8M+ last year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is $1.3-4 for a lower-lucrative practice, bills less than 1500.

International tax law?

There were partners like this at my firm too. Not many. And they didn’t get much respect. If the whole partnership did this the firm would fall apart.

LOL, he brought in $8M+ last year.

Well, you are following the very typical DCUM rule of burying the lead. Of course, if you bring in that much business you can get away with billing 1500 a year for 1.4 million. But it also begs the question: How much time is he spending on business development? He’s not sitting back around doing nothing while $8 million a year pours in. So something is amiss. In other words, you’re a little full of shit about something.

Let me guess: he works downtown and lives in the suburbs and leaves for work around 8 or 9 but magically for him his commutes only 15 minutes. Right?