Reply to If your spouse was a big law counsel/senior associate & did not make partner the first time up, then

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The best situation I can equate to partnership voting is fraternity/sorority rush deliberations.  If he has heard he has a good shot, then he'll probably make it.   The money gets SO much better as a partner, but the work demands are intense. [/quote]

It took DH about 5 years as partner/slave before the money really started on the uptick.  But his firm's capital requirement is huge. [/quote]

These are interesting statements concerning capital requirements and the money you earn once becoming partner.  I heard once you are a partner your salary (or draw) is reduced by at least 25%, you must buy into the partnership via a low interest loan to fulfill your capital contribution requirement, but that you receive a percentage of the firm's profits either quarterly, semi-annually, or at the end of the year.  I viewed an article a few months ago where newly crowned partners said they did not realize how much their total take-home pay would be reduced even with the profits distributions.  The new partners says that noone wants to discuss this because people assume once you are partner you are raking in tons of money.  Has anyone experienced this?  [/quote]

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