Big law equity partner salary

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well, its not a salary if s/he’s an equity partner, but my guess is in the 300k-400k range.

At this range you’re not killing it. This seems like a mommy track partner draw in a lesser tier firm. If you want to eat choice red meat you have hunt the big game.

In that case you’ll have to move to NY. DC work is all mommy tier.

[Anonymous]

My DH is up for partner next year at an elite boutique that pays market for associates and I expect his all-in to be like $400k? But if people in this thread are right I won’t send the money back!

I’m at one of the Big Four old DC firms and it’s a total black box.

[Anonymous]

Which are the elite boutique firms?

[Anonymous]

Anonymous wrote:My DH is up for partner next year at an elite boutique that pays market for associates and I expect his all-in to be like $400k? But if people in this thread are right I won’t send the money back!

I’m at one of the Big Four old DC firms and it’s a total black box.

WTH is the Big Four? That’s not a thing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My DH is up for partner next year at an elite boutique that pays market for associates and I expect his all-in to be like $400k? But if people in this thread are right I won’t send the money back!

I’m at one of the Big Four old DC firms and it’s a total black box.

WTH is the Big Four? That’s not a thing.

Not PP, but I assume she means Covington, Wilmer, A&P, and ?. Maybe W&C, but they aren't nearly as old.

Also, if the boutique matches associate comp (as a number do), all in for associates is around $450k, so the number quoted would be worse as a partner. That can happen with taxes, benefits, deferred compensation, but it might be higher than you expect.

[Anonymous]

I'm a 3rd year equity partner at a top firm. I made $1.6 mill last year.

[Anonymous]

Anonymous wrote:I'm a 3rd year equity partner at a top firm. I made $1.6 mill last year.

Can't be a DC based firm Right? They're not paying that to third year partners.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm a 3rd year equity partner at a top firm. I made $1.6 mill last year.

Can't be a DC based firm Right? They're not paying that to third year partners.

It's not DC based. But has a large DC office.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm a 3rd year equity partner at a top firm. I made $1.6 mill last year.

Can't be a DC based firm Right? They're not paying that to third year partners.

It's not DC based. But has a large DC office.

Maybe Latham, Kirkland, Skadden, or Quinn.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My DH is up for partner next year at an elite boutique that pays market for associates and I expect his all-in to be like $400k? But if people in this thread are right I won’t send the money back!

I’m at one of the Big Four old DC firms and it’s a total black box.

WTH is the Big Four? That’s not a thing.

Not PP, but I assume she means Covington, Wilmer, A&P, and ?. Maybe W&C, but they aren't nearly as old.

Also, if the boutique matches associate comp (as a number do), all in for associates is around $450k, so the number quoted would be worse as a partner. That can happen with taxes, benefits, deferred compensation, but it might be higher than you expect.

The fourth is Hogan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm a 3rd year equity partner at a top firm. I made $1.6 mill last year.

Can't be a DC based firm Right? They're not paying that to third year partners.

It's not DC based. But has a large DC office.

Figured. Does the firm have non-equity partners?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My DH is up for partner next year at an elite boutique that pays market for associates and I expect his all-in to be like $400k? But if people in this thread are right I won’t send the money back!

I’m at one of the Big Four old DC firms and it’s a total black box.

WTH is the Big Four? That’s not a thing.

Not PP, but I assume she means Covington, Wilmer, A&P, and ?. Maybe W&C, but they aren't nearly as old.

Also, if the boutique matches associate comp (as a number do), all in for associates is around $450k, so the number quoted would be worse as a partner. That can happen with taxes, benefits, deferred compensation, but it might be higher than you expect.

The fourth is Hogan.

That makes sense. They just slipped my mind.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My DH is up for partner next year at an elite boutique that pays market for associates and I expect his all-in to be like $400k? But if people in this thread are right I won’t send the money back!

I’m at one of the Big Four old DC firms and it’s a total black box.

WTH is the Big Four? That’s not a thing.

Not PP, but I assume she means Covington, Wilmer, A&P, and ?. Maybe W&C, but they aren't nearly as old.

Also, if the boutique matches associate comp (as a number do), all in for associates is around $450k, so the number quoted would be worse as a partner. That can happen with taxes, benefits, deferred compensation, but it might be higher than you expect.

The fourth is Hogan.

That makes sense. They just slipped my mind.

I can see why -- it's nowhere near what it once was.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm a 3rd year equity partner at a top firm. I made $1.6 mill last year.

Can't be a DC based firm Right? They're not paying that to third year partners.

It's not DC based. But has a large DC office.

Maybe Latham, Kirkland, Skadden, or Quinn.

I posted earlier and said that people were undershooting this -- this number sounds in the right ballpark to me and is right for the firms the Quoted poster mentioned -- as well as some others like Cleary, Simpson, Gibson, etc who have DC offices.

I appreciate what some others said about how sometimes the salary progression is not what people might imagine -- I do think that's true for some firms. But the very top firms really are operating in a different sphere and are compensating junior equity partners very well and much more than 700k. That's not true of the DC based firms like Covington, A&P, Akin Gump, etc but they don't pay top of the market. It's as simple as that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm a 3rd year equity partner at a top firm. I made $1.6 mill last year.

Can't be a DC based firm Right? They're not paying that to third year partners.

It's not DC based. But has a large DC office.

Maybe Latham, Kirkland, Skadden, or Quinn.

I posted earlier and said that people were undershooting this -- this number sounds in the right ballpark to me and is right for the firms the Quoted poster mentioned -- as well as some others like Cleary, Simpson, Gibson, etc who have DC offices.

I appreciate what some others said about how sometimes the salary progression is not what people might imagine -- I do think that's true for some firms. But the very top firms really are operating in a different sphere and are compensating junior equity partners very well and much more than 700k. That's not true of the DC based firms like Covington, A&P, Akin Gump, etc but they don't pay top of the market. It's as simple as that.

All true, except there's a bit of an apples/oranges comparison goin on. Most of these firms either have two-tiered partnerships where partners start as non-equity or they promote far fewer partners to equity than the DC firms. Kirkland, for example, has at least twice as many non-equity partners as equity. I have a hunch that the "third year equity partner" here, who posted that s/he made $1.6 milion, has been out of law school several years longer than a typical third year equity partner at a DC-based firm.