Equity Partners Told to Bear Brunt of Downturn, But It’s Tricky

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Today, we look at the complex relationship between pay cuts for associates and equity partners. Sign up to receive this column in your Inbox every Thursday morning.

Just about two months ago, before the world changed, I wrote:

“Big Law firms have just begun reporting their profit from last year, and by all indications it was another strong year. As profits per partner continue to increase, associates may question the fairness of the current compensation structure. The question partners will ...