Need Advice from those in Big Law

[Anonymous]

A lot of people who are “partner” are non-equity partners, which is only different from being “of counsel” to people outside the firm.

Equity partners won’t share their equity unless the person is bringing in business that makes it worth it in the very near term.

There’s also a chance that one could make partner at one of the firms that only has equity partners and get pushed down to “of counsel” if they aren’t bringing enough business.

Having been at a firm like that, I’m pretty sure all these “big” partner classes are of non-equity partners for marketing (clients and new hires) purposes.

Anyway - I get how OP’s husband feels, I was there (but much earlier in my career) and didn’t really want to be partner, because I wanted a little work/life balance, but also didn’t like being “only” of counsel.

I’d say he should ride it out, because really, the $$$ benefits for partnership take 5-7 years at least to get significantly ahead of being a well paid of counsel - better to put that time in as of counsel and peace out.

Also, the reality is, the firm wouldn’t keep him on if they didn’t find his contributions worth it. So he shouldn’t see it as a reflection of his skill as a lawyer.

[Anonymous]

Anonymous wrote:You guys should be in a great position financially. Six years as an associate would probably be about $200K per year average comp. Another 12 years as a govt attorney with probably about $160K per year average comp plus another 6 years as counsel with probably $400K average comp. If I were him I would just "coast" into retirement to the extent one can do so in biglaw. You guys probably have enough money to comfortably retire now or at most in a few years.

Big law associate comp 25 years ago was not 200k/year. I was class of 2013 and we were 160k. Government was way less.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Extremely common? Not in my specialty, anyway. Gov lawyer here, and I've only seen it happen once -- and that was because the line attorney was part of a package deal; he was the service partner who did the work for his bff -- a huge name who brought in clients like a magnet and did little work beyond signing his highly recognizable name on pleadings. Other gov lawyers did leave for firms where they were given the title of partner, but not BigLaw; more like little regional firms you have never heard of, where there are 3-6 partners and you only eat what you kill.

I see it frequently in white collar and antitrust. It used to be that only people in management or with a truly exceptional reputation lateraled in as partners, but now it seems that someone who leads a few significant cases or investigations can pull it off. Multiple classmates of mine did it in 8-9 years (for example, biglaw for three years, AUSA for six years).

Ok, yeah, I can see it with crim.

[Anonymous]

Echoing those who say he’s not likely to make partner. To do so would require some combination of the following, in rough order of importance: (1) his own significant business, (2) partner champions with significant management pull, (3) a very rare practice specialty that is indispensable to the firm, and (4) the politically savvy to push his case through. Law firms are great at paying/promoting people just enough to keep them from quitting and no more.

I echo those who say he’s suited for where he is. It’s not a bad gig or life. Partnership comes with an automatic target on your back.