Anonymous
01/06/2015 20:08
Subject: Re:nosy question about big law partnership
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:A non equity partner in a 900k firm probably makes under $450k.
OP here.
The non-equity profits per partner are $900k. The equity profits per partner are $1.3k.
I guess what I'm asking is--is the $900k an average or the same for each non-equity partner? If it varies, what would the range be?
Average. But unless your friend works at Wachtell, that number is very suspect as it is much higher than non-equity partners make. Are you sure that isn't the average for all partners?
OP here again.
No, $900kish is the non-equity profits/per/partner average. I think the firm is known for quite high non-equity salaries.
Anyway, this is all interesting. I'd bet my relative is making around $500K. Although the relative has taken precisely 2 (yes TWO!) days off in 3 years.
So maybe it's more.
I hate nosy people. So ugly, so crass.
Anonymous
01/06/2015 12:15
Subject: Re:nosy question about big law partnership
Anonymous wrote:900 is all partners (equity plus non equity) the other is equity. A firm with that spread probably draws the equity line at $500. So your friend is probably around $450. Firms don't reporton income partner salary averages separately. Also keep in mind that the public numbers aren't always accurate.
Firms routinely play with their reported numbers to get them higher. For example, firms omit certain low-income generating partners--first years, partners past retirement age, recent lateral partners.
Anonymous
01/04/2015 20:01
Subject: Re:nosy question about big law partnership
if this person is "very close" then ask them. if you feel like you can't MYOB
Anonymous
01/04/2015 19:56
Subject: Re:nosy question about big law partnership
900 is all partners (equity plus non equity) the other is equity. A firm with that spread probably draws the equity line at $500. So your friend is probably around $450. Firms don't reporton income partner salary averages separately. Also keep in mind that the public numbers aren't always accurate.
Anonymous
01/04/2015 19:51
Subject: Re:nosy question about big law partnership
Anonymous wrote:Anonymous wrote:Anonymous wrote:A non equity partner in a 900k firm probably makes under $450k.
OP here.
The non-equity profits per partner are $900k. The equity profits per partner are $1.3k.
I guess what I'm asking is--is the $900k an average or the same for each non-equity partner? If it varies, what would the range be?
Average. But unless your friend works at Wachtell, that number is very suspect as it is much higher than non-equity partners make. Are you sure that isn't the average for all partners?
OP here again.
No, $900kish is the non-equity profits/per/partner average. I think the firm is known for quite high non-equity salaries.
Anyway, this is all interesting. I'd bet my relative is making around $500K. Although the relative has taken precisely 2 (yes TWO!) days off in 3 years.
So maybe it's more.
Anonymous
01/04/2015 18:22
Subject: Re:nosy question about big law partnership
Anonymous wrote:Anonymous wrote:Anonymous wrote:A non equity partner in a 900k firm probably makes under $450k.
OP here.
The non-equity profits per partner are $900k. The equity profits per partner are $1.3k.
I guess what I'm asking is--is the $900k an average or the same for each non-equity partner? If it varies, what would the range be?
Average. But unless your friend works at Wachtell, that number is very suspect as it is much higher than non-equity partners make. Are you sure that isn't the average for all partners?
NP. Surely the 900k figure is PPP if you include non-equity partners in the denominator. 1.4MM is if you only include equity. Agreed that year 3 non equity partner at a firm with these numbers should be in the 500k range barring unusual circumstances.
Anonymous
01/04/2015 18:06
Subject: Re:nosy question about big law partnership
Anonymous wrote:Anonymous wrote:A non equity partner in a 900k firm probably makes under $450k.
OP here.
The non-equity profits per partner are $900k. The equity profits per partner are $1.3k.
I guess what I'm asking is--is the $900k an average or the same for each non-equity partner? If it varies, what would the range be?
Average. But unless your friend works at Wachtell, that number is very suspect as it is much higher than non-equity partners make. Are you sure that isn't the average for all partners?
Anonymous
01/04/2015 18:02
Subject: nosy question about big law partnership
Assuming your info is correct, 900k would be the average. The distributions tend to be very skewed, though, and I would expect most non-equity partners at such a firm to be in the 350-400k range as pp above suggests, with most equity partners in the 500-600k range, with the handful of top rainmakers at 2.5-3 MM and up.
Anonymous
01/04/2015 17:28
Subject: Re:nosy question about big law partnership
Anonymous wrote:A non equity partner in a 900k firm probably makes under $450k.
OP here.
The non-equity profits per partner are $900k. The equity profits per partner are $1.3k.
I guess what I'm asking is--is the $900k an average or the same for each non-equity partner? If it varies, what would the range be?
Anonymous
01/04/2015 17:12
Subject: nosy question about big law partnership
Anonymous wrote:I have a close (very close) relative who is in about year 3 of "big" law partnership in DC.
Online info (which seems to abound for law firms) states that "per partner profits" for this firm are roughly $900K/year. Equity partnership profits are about $1.3.
The relative partner is NOT an equity partner but is a full partner (roughly 3 years in).
Is he/she making $900K? Or or there different levels without the non-equity partnership?
Just curious, i.e. nosy.
The PPP figure is an average. By definition, some partners make more (some MUCH more) and some make less. It's based on a system where money is allocated to partners based on the amount they brought in, supervised, etc.
Anonymous
01/04/2015 17:09
Subject: nosy question about big law partnership
Prob btwn 300 and 500.
Anonymous
01/04/2015 17:06
Subject: nosy question about big law partnership
Anonymous wrote:Profits have to pay for all of the support staff, rent, bills, etcetera.
No they don't. Revenue pays for that. Profits are what's left to be distributed to the partners.
Anonymous
01/04/2015 17:05
Subject: nosy question about big law partnership
Profits have to pay for all of the support staff, rent, bills, etcetera.
Anonymous
01/04/2015 17:00
Subject: Re:nosy question about big law partnership
A non equity partner in a 900k firm probably makes under $450k.
Anonymous
01/04/2015 16:51
Subject: nosy question about big law partnership
I have a close (very close) relative who is in about year 3 of "big" law partnership in DC.
Online info (which seems to abound for law firms) states that "per partner profits" for this firm are roughly $900K/year. Equity partnership profits are about $1.3.
The relative partner is NOT an equity partner but is a full partner (roughly 3 years in).
Is he/she making $900K? Or or there different levels without the non-equity partnership?
Just curious, i.e. nosy.
Online info (which seems to abound for law firms) states that "per partner profits" for this firm are roughly $900K/year. Equity partnership profits are about $1.3.
The relative partner is NOT an equity partner but is a full partner (roughly 3 years in).
Is he/she making $900K? Or or there different levels without the non-equity partnership?
Just curious, i.e. nosy.