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[quote=Anonymous]I retired early from DC Biglaw.  Honestly, I don’t understand the posters on this and other threads who talk about their income going down when they’re first promoted to partner or counsel from associate.  My firm (for all of its faults) never would have allowed that to happen.  It made sure that new partners were compensated at least a token bit more than they were before being promoted, even taking into account capital contributions, being fully responsible for health insurance/social security, etc.  I certainly made more right away, and I never heard anyone else suggest that they weren’t.

On the “12th year associate” thing - yes, it happens, and will likely happen more frequently moving forward.  So long as an associate remains profitable, there’s a need, and they’re happy enough, most firms will keep them on.  Here’s the rub, though:  most Biglaw lawyers don’t stay happy in the arrangement, and it’s not surprising why.  The typical Biglaw lawyer is a naturally competitive type, and as the years go by a typical passed over associate gets less and less content as round after round of younger lawyers make partner and surpass them in income and prestige.  You have to be awfully confident in and comfortable with yourself to watch lawyers who you took out to lunch as summer associates when you were a fourth or fifth year become partners (or even counsel) ahead of you.  And most Biglaw lawyers just aren’t wired that way.  [/quote]

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