Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Average profit per equity partner at Cooley broke $4M. Non equity partners start at about $950k last I checked.

Very weird to get this so wrong when it’s very easily googled:

Cooley LLP saw profits per equity partner plunge 19.5% to $3.27 million last year, while revenue ticked up 1%. The San Francisco-headquartered firm, which laid off 150 associates and staffers in November, grew its partnership by 3.5% and total headcount by 11.5% over the year.


https://news.bloomberglaw.com/business-and-practice/wake-up-call-cooley-partner-profits-sink-by-20-amid-layoffs

I said "last I checked." So my figures were one year old. The basic premise is unchanged. Partners make a ton.

Here's 2022's article. https://www.law.com/americanlawyer/2022/03/03/cooley-revenues-approach-2b-in-major-growth-year/?slreturn=20230413110030

No one is shedding a tear for someone who made $4M in 2022 and $3.27M in 2023.

Anonymous wrote:

Anonymous wrote:Average profit per equity partner at Cooley broke $4M. Non equity partners start at about $950k last I checked.

Very weird to get this so wrong when it’s very easily googled:

Cooley LLP saw profits per equity partner plunge 19.5% to $3.27 million last year, while revenue ticked up 1%. The San Francisco-headquartered firm, which laid off 150 associates and staffers in November, grew its partnership by 3.5% and total headcount by 11.5% over the year.


https://news.bloomberglaw.com/business-and-practice/wake-up-call-cooley-partner-profits-sink-by-20-amid-layoffs

I said "last I checked." So my figures were one year old. The basic premise is unchanged. Partners make a ton.

Anonymous wrote:

Anonymous wrote:How prestigious is Big Law in DC? In the Bay Area, it was viewed as a very good but second tier job type for the area. I think a higher-stress orthodontist might be the best comparison. There were a couple of exceptions based on particular firms but it wasn't going to impress many people at a cocktail party (and you were rarely going to be close to the wealthiest or highest income in the room as an attorney).

It's much more prestigious here because it's more important to the DC economy. In SF it's all about founders. In DC it's all about powerful political access. Which biglaw lawyers often have.

Also - don’t forget that DC is so much cheaper than the Bay Area or NYC. So of course, a biglaw salary will provide a very nice lifestyle.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All these DH’s. Hope there are some women out there!

I don’t think you know what you’re wishing for. This is not a motherhood friendly life.

Entirely firm dependent.

I was at one of the most mommy friendly firms in town (Arnold & Porter) and I still don't wonder at all why more women aren't partners in the industry. It's pretty obvious why.

Agreed. I am a childless woman partner. If you are doing true biglaw, I’m sorry, but the demands of the job make being a very available mother impossible. It’s a fact. You dont rise through a firm to make in excess of >$1M w/ou working nights and weekends at some frequency.

Of course there will be some nights and weekends, but that’s what you have associates for.

Anonymous wrote:Average profit per equity partner at Cooley broke $4M. Non equity partners start at about $950k last I checked.

Very weird to get this so wrong when it’s very easily googled:

Cooley LLP saw profits per equity partner plunge 19.5% to $3.27 million last year, while revenue ticked up 1%. The San Francisco-headquartered firm, which laid off 150 associates and staffers in November, grew its partnership by 3.5% and total headcount by 11.5% over the year.


https://news.bloomberglaw.com/business-and-practice/wake-up-call-cooley-partner-profits-sink-by-20-amid-layoffs

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All these DH’s. Hope there are some women out there!

I don’t think you know what you’re wishing for. This is not a motherhood friendly life.

Entirely firm dependent.

I was at one of the most mommy friendly firms in town (Arnold & Porter) and I still don't wonder at all why more women aren't partners in the industry. It's pretty obvious why.

Agreed. I am a childless woman partner. If you are doing true biglaw, I’m sorry, but the demands of the job make being a very available mother impossible. It’s a fact. You dont rise through a firm to make in excess of >$1M w/ou working nights and weekends at some frequency.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How prestigious is Big Law in DC? In the Bay Area, it was viewed as a very good but second tier job type for the area. I think a higher-stress orthodontist might be the best comparison. There were a couple of exceptions based on particular firms but it wasn't going to impress many people at a cocktail party (and you were rarely going to be close to the wealthiest or highest income in the room as an attorney).

Sorry you don’t make as much money as a BigLaw partner.

I do just fine I didn't know service industry jobs were so well respected in DC though.

Is Big Law really toward the top of the pyramid here though? It honestly isn't out west or even in NYC where Wall Street dominates. Before moving here, I had heard there were a lot of lawyers comparatively so maybe it is different. This also isn't the same type of hub for huge $$ industries like the New York (finance) and the Bay Area (tech). The lawyers really might be among the biggest earners here.

What kind of dumb weird hierarchy are you envisioning? Like who is most desired at the ball?

That comes down to: (1) how much money you have and (2) you personal charm and frankly looks. You can find that in biglaw lawyers and you can find it in others. No one just decides based on a job. A person is…more complicated than that.

Anonymous wrote:All these DH’s. Hope there are some women out there!

I’m a woman, second year income partner and make $1.2M (it’s abt 50% salary, 50% bonus but I always get my bonus). Equity partner comp at my firm is very high relatively (NY corp firm - not K&E).

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a CPA for a few downtown and they (my clients) make between 3M and 7M fairly consistently. Some do broach $10M+

That is insane! Wow.

So do most partners fall in the 3-7M range? And what are their ages?

NO. Most do not. PP has somehow cultivated the higher end of the range for clients.

Got it. So is that the top 10% of partners perhaps? Rather, most big law associates are probably not looking at ultimately making $7M in later stages of career?

The vast majority of associates will not be partner. The end.

How much partners make varies first by firm - certain very elite NY-based firms make the most money by far and their average partner comp is going to be above even very ‘fancy’ lawyers here in DC. Even the most elite DC firms make a good bit less money for the most part, bc of the nature of the work they do. But within a firm, depending on comp structure, partner compensation can vary tremendously.

We know certain very famous partners at say…Hogan…are making way more than non-famous partners at the same firm…

For some reason it’s all law partners posting here

I’m curious to know about the compensation & lifestyles of MBB consulting partners, as well as big 4 audit, tax and consulting partners.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How prestigious is Big Law in DC? In the Bay Area, it was viewed as a very good but second tier job type for the area. I think a higher-stress orthodontist might be the best comparison. There were a couple of exceptions based on particular firms but it wasn't going to impress many people at a cocktail party (and you were rarely going to be close to the wealthiest or highest income in the room as an attorney).

Sorry you don’t make as much money as a BigLaw partner.

I do just fine I didn't know service industry jobs were so well respected in DC though.

Is Big Law really toward the top of the pyramid here though? It honestly isn't out west or even in NYC where Wall Street dominates. Before moving here, I had heard there were a lot of lawyers comparatively so maybe it is different. This also isn't the same type of hub for huge $$ industries like the New York (finance) and the Bay Area (tech). The lawyers really might be among the biggest earners here.

????

It must be an SF thing. As someone else said, it is all about founding and making/building there.
Lawyers are technically service providers. Ask any of us about our most demanding clients !

When I think of “working in the service industry” I think of being a waitress

Prob not much different than being a law partner in terms of how demanding customers are

Anonymous wrote:Women partners work even harder and take on more firm responsibilities. Their male counterparts will probably be the first to admit it. There are not many though as work is your lifestyle.

+1 absolutely, we get all the non-client facing admin positions.

Anonymous wrote:Average profit per equity partner at Cooley broke $4M. Non equity partners start at about $950k last I checked.

How long ago was that? They were hit especially hard by interest rate hikes leading to startups curdling.

Average profit per equity partner at Cooley broke $4M. Non equity partners start at about $950k last I checked.

Anonymous wrote:All these DH’s. Hope there are some women out there!

let the husbands work all they want. there are plenty of guys out there to give the wives what they desire while their husbands spend their entire lives "working"

work requires physical activity, these guys read all day