Anonymous wrote:Hmm, if it only takes 8-10 years on average to become an equity partner, there must be many partners and very little equity to go around.

Equity partnerships are much harder to come by. In order to stay filthy rich, the already existing equity partners now seriously limit the number of attorneys who attain that status. Many more associates are now given the status of non-equity partner so that those in power don't have to share the wealth.

Anonymous wrote:Hmm, if it only takes 8-10 years on average to become an equity partner, there must be many partners and very little equity to go around.

That's 8-10 years for those who are going to make partner. Plenty of people who start at law firms don't, either by choice or because they're passed over.

I was a non equity in big law and decided to bail. Was never going to happen. Went to a regional boutique, and made equity there within a year. Work much less and make much more now.

Hmm, if it only takes 8-10 years on average to become an equity partner, there must be many partners and very little equity to go around.

Anonymous wrote:No one makes partner anymore. Counsel is the new partner.

Sorry you got passed over.

No one makes partner anymore. Counsel is the new partner.

Each firm is different is different -- not only as to timing, but also as to the type of partnership offered. Some firms used to automatically promote people to "partnership" after 7-8 years, but it would be non-equity partnership -- i.e., basically a counsel position, but with the partner title. I think there may be some firms that still do this (though my firm does not).

Some firms have only an equity tier, so they use counsel as a "stepping stone" position between associate and partner.

As others have said, promotion to partnership these days is very, very, very difficult.

What percentage of the firm's business do you need to bring in before you become the "he's indispensable let's partner him up before he leaves!" kind of guy?

It took me seven. It took my work-friend who started at the same time I did, nine.

Anonymous wrote:lol. equity partner????? not gonna happen.

This.

lol. equity partner????? not gonna happen.

It varies, and it's gotten longer recently. However, the only timeline is when you are an associate. At most firms, after 8 to 10 years you need to either make counsel (or partner) or start looking for another job: there are no 15th-year associates, for example.

A lot of people get made "counsel" with the idea that they are still on partner track, but there is no real timeline for making partner: it's a question of when it makes financial sense for the firm. Some people are content to remain counsel forever, while others aren't but can't quite make the jump to partner, especially if the firm is not doing well or the aged supervising partner refuses to retire. Your friends who made partner in their early 30s presumably billed a ton and/or brought in business, and therefore it made financial sense for the firm to make them partners.

Varies. 7 to 10 is average.

Not a lawyer, but wondering why some of my friends made partner in their early-mid 30s and some still on track in their 40s?

Is each firm different?