Reply to what is the typical equity partner buy-in (at law firms of various sizes) and how is that financed?

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Reply to "what is the typical equity partner buy-in (at law firms of various sizes) and how is that financed?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not to derail the thread but is this all under wraps until you actually become partner? Are you told any of this beforehand or is it just generally understood that you'll just accept the set-up when you get called up for partner? [/quote]

At every firm I've worked at, they just spring it on you after you make partner.  My first dh, who was a big law partner, always said they have to do that, or the associates would figure out early on that partnership is a lousy deal.  [/quote]

well it is NOT a lousy deal, since the increased compensation more than makes up for the benefits and tax BS.  And some firms are set up as corporations which changes thing slightly (depending on how they elect to be taxed).  I work for a boutique firm and made about $200K to $250K as a non-equity shareholder (Class B). So yeah, I had to pony up money for my capital contribution, but my income goes up by $100K to $200K/year.  And I get the capital back when I leave or retire.[/quote]

I believe that you are a law firm partner, since you have the mandatory humor deficiency.  [/quote]

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