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[quote=Anonymous][quote=Anonymous][quote=Anonymous]That’s not true. At the true lockstep firms (Cravath, Devevoise and Cleary) the spread between the lowest and highest paid partners is about 3:1. This is based purely on seniority. With PPPs at over 3 million, this means that first year equity partners (8 years out of law school) are clearing about 1.5M.[/quote] Since we are looking at average/typical here, pulling out the handful of outliers who do lockstep comp isn’t meaningful.[/quote] I agree. You can probably count on your fingers and toes the number of first year BigLaw partners only 9 years out of law school who are pulling in 1.5. I’m also not so sure if any firm is still purely lockstep and 3:1 anymore — even Cravath loses partners now — although I don’t know for sure. I’m sticking with the high end of middle six figures. [/quote]
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