Anonymous wrote:I know literally a dozen section chiefs, deputy chiefs, and senior attorneys from DOJ who entered firms as partners. Also the head of enforcement at several agencies, which is below the gc level. Also the head of policy at some of them. Anyhow, I agree it's a tiny fraction of gov't attorneys who can do this, but it's a much bigger group of people than other posters are implying, and OP probably has some clue about his or her resume.
Anonymous wrote:Anonymous wrote:Anonymous wrote:I think the key distinction is if you're trying to be an equity partner or an income partner. At a firm with income partners, I'd say sure, you can make income partner with tons of experience and no book. Why do they care if they're not sharing a piece of the pie with you? It's not going to happen, however, at a firm with an equity-only partnership structure. You'll need a large book.
Income partner is not a partner. If you don't own equity, you are not a partner. Outside of law, income partners are called director ( big 4s).
That's not true in the law. They are still their own boss, pay their own benefits, etc. (at least at the firms in which I am familiar). They also have the same ethical and legal obligations to the business as equity partners. The are far more similar to equity partners than to any other class of employee, even if they don't have an equity interest.
Anonymous wrote:Anonymous wrote:I think the key distinction is if you're trying to be an equity partner or an income partner. At a firm with income partners, I'd say sure, you can make income partner with tons of experience and no book. Why do they care if they're not sharing a piece of the pie with you? It's not going to happen, however, at a firm with an equity-only partnership structure. You'll need a large book.
Income partner is not a partner. If you don't own equity, you are not a partner. Outside of law, income partners are called director ( big 4s).
Anonymous wrote:I think the key distinction is if you're trying to be an equity partner or an income partner. At a firm with income partners, I'd say sure, you can make income partner with tons of experience and no book. Why do they care if they're not sharing a piece of the pie with you? It's not going to happen, however, at a firm with an equity-only partnership structure. You'll need a large book.