Biglaw partner net worth?

[Anonymous]

Anonymous wrote:I've known some that are really big spenders, which is the problem. Less so here but in NYC where they are trying to keep up with the finance crowd or SF where they are trying to keep up with the tech crowd.

Yup. Just had dinner with a couple. He’s a partner at one of the biggest NYC firms. She’s a SAHM but former lawyer. They live on Park Ave, put 3 kids through private school, including boarding schools and all three through private colleges. They just bought home on John’s Island Fla and a home in the Hamptons. He is 54 and not retiring anytime soon.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Depending on the equity buy-in amount and the partner draw schedules, the first couple years as an equity partner can present some short-term cash flow challenges. My firm allowed buy-ins over 2 years taken from your draw. Your draw is roughly half of your base compensation--the remainder of your base is at-risk pending on how the firm is doing against its budget. All the while, your living expenses and estimated tax bill don't stop.

So you take out a loan.

An interest-free loan from my firm is a better deal than taking out a loan or tapping a HELOC. Again, it's just temporary cashflow issue. I have colleagues that had to use their HELOCs to pay estimated taxes and then paid it off immediately after comp season.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think the other big law compensation thread is a lot closer than these outliers making $4m for decades.

Didn't the other one say equity partners were making $3-4 million as only 4th year partners??? Or are you referring to even a different thread than that?

No, it did not say that.

https://www.dcurbanmom.com/jforum/posts/list/1131461.page

No need to be a jerk. All you had to say was you were referring to a different (older) thread. I was talking about the one from a month ago, not one over two years ago. And yes, the one I was referring to did in fact say that:

https://www.dcurbanmom.com/jforum/posts/list/1279288.page#30267059

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think the other big law compensation thread is a lot closer than these outliers making $4m for decades.

Didn't the other one say equity partners were making $3-4 million as only 4th year partners??? Or are you referring to even a different thread than that?

No, it did not say that.

https://www.dcurbanmom.com/jforum/posts/list/1131461.page

No need to be a jerk. All you had to say was you were referring to a different (older) thread. I was talking about the one from a month ago, not one over two years ago. And yes, the one I was referring to did in fact say that:

https://www.dcurbanmom.com/jforum/posts/list/1279288.page#30267059

I’m not sure how my comment was jerky, and while it was started two years ago it last been recently commented on because it was hanging around the tip of this forum, which is how I saw it.

However, if you want to hold on to your position that all big law it’s raking in $4M a year, go for it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think the other big law compensation thread is a lot closer than these outliers making $4m for decades.

Didn't the other one say equity partners were making $3-4 million as only 4th year partners??? Or are you referring to even a different thread than that?

No, it did not say that.

https://www.dcurbanmom.com/jforum/posts/list/1131461.page

No need to be a jerk. All you had to say was you were referring to a different (older) thread. I was talking about the one from a month ago, not one over two years ago. And yes, the one I was referring to did in fact say that:

https://www.dcurbanmom.com/jforum/posts/list/1279288.page#30267059

I’m not sure how my comment was jerky, and while it was started two years ago it last been recently commented on because it was hanging around the tip of this forum, which is how I saw it.

However, if you want to hold on to your position that all big law it’s raking in $4M a year, go for it.

I don't hold that position at all. In fact, I specifically asked you if you were referring to another thread so I could get some other perspectives because the thread I saw was consistent with some of the comments here, which was surprising. Not sure why you're being so rude, but I'll chalk it up to a bad day. Have a good night.

[Anonymous]

I’m surprised if a typical equity partner at a non-top 10 firm in Wash, DC is making $1 M a year. Obviously there’s a range, but my attorney friends around 50 yo at medium sized firms do not seem to be pulling in that much. I’d guess $500 or maybe even less.

[Anonymous]

Anonymous wrote:I’m surprised if a typical equity partner at a non-top 10 firm in Wash, DC is making $1 M a year. Obviously there’s a range, but my attorney friends around 50 yo at medium sized firms do not seem to be pulling in that much. I’d guess $500 or maybe even less.

There are more than 10 large law firms in DC where the typical Biglaw partners are making $1 million plus. Absolutely no doubt about it.

[Anonymous]

Anonymous wrote:I’m surprised if a typical equity partner at a non-top 10 firm in Wash, DC is making $1 M a year. Obviously there’s a range, but my attorney friends around 50 yo at medium sized firms do not seem to be pulling in that much. I’d guess $500 or maybe even less.

My spouse is at a mid sized firm in this area and makes almost $1M a year. He’s not the highest paid partner but up there. He’s early 40’s. Most of them make over $500k though. A few make $2M.