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Reply to "Help explain compensation for new law firm partners?"
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[quote=Anonymous]OP, he needs to talk to HR or whoever is in charge of shepherding him through this process. It’s different at every firm. My firm is structured as a professional corporation, and I’m equity. However, I get a W-2 for the vast majority of my comp. My firm also allows us to do the buy-in over a long period of time out of our comp (a percentage of my comp gets automatically deducted for this purpose until I’m paid up). Some firms with a large buy-in make you take out a bank loan. In short, it totally depends on how the firm is structured and how they’ve chosen to structure comp. [/quote]
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