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Reply to "Biglaw - twelfth-year associate??"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Is there really that much of a difference between the associate, the "counsel" paid a salary, or the income partner? They're all paid a salary and are employees, not owners -- it is just nomenclature? [/quote] It depends on the firm. But in my former firm, yes there was a difference. While no one is guaranteed a job these days, obviously, a counsel in my former firm has a lot more job security than an associate. The associate position is rarely understood to be permanent. [/quote] Also, an income partner will leverage down more than a senior associate, generating more revenue for the firm.[/quote]
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