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Reply to "Law firms now demoting partners . "
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[quote=Anonymous]De-equitization of partners isn't a new trend, but rather has been going on for years behind the scenes. Older partners are slowly de-equitized in order to free up that equity for younger folks who want to join the ranks. Firms don't necessarily want to grow their outstanding equity. Rather, they would prefer to keep the same number of equity partners so that everyone is generally happy. Likewise, de-equitization isn't a sudden event - it is often preceded by years of declining billables and business generation. In most cases, the older partners know it's going to happen, but that doesn't necessarily make it any easier from a psychological standpoint.[/quote]
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