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[quote=Anonymous]If you happen to be at a firm that is stingy on partner promotions, but probably happy to have you stay on as a perpetual associate (subject only to a major econ downturn), then by definition you don't have a massive book of business and you're likely far better in the medium term to stay where you are.  If you jump ship to another firm with the promise of your current book of business, they will make you non-equity partner, probably at pretty similar comp to what you're making at your current firm (maybe $100-200k more, but rounding errors after taxes when you're already making $600k) but the minute you don't produce the clients you told them you would, you get fired. These days, my firm is only giving lateral partners 6-12 months to produce, depending on how big a hire they were. Versus if you stay put in your current firm, you can keep making that money for probably another 10 years.  
 
The best situation for those types of lawyers (like me!) who are very well liked, do good work but aren't super rainmakers, is just to end up at a firm that has non-equity partner, get the title and stay put in that role for 15 years.  But when you join a firm out of law school, you don't always have good transperency into whether a firm is generous with partnership promotion vs not, and honestly a lot of firms changed the rules over the last 15 years (and continue to), so even if you did your diligence back then, you might be SOL now.  I was lucky that i lateraled to a new firm as a 6th year and we make everyone partner at year 7. My former firm, some of my peers are still counsel and/or senior associates 16 years later, and were no different than me.  [/quote]

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