One Tiny Number Shows Why More Firms Want Nonequity Partners

Welcome back to the Big Law Business column. I’m Roy Strom, and today we look at how a dwindling pyramid may explain why some firms are looking to add nonequity partners. Sign up to receive this column in your Inbox on Thursday mornings.

Law firms are often described as pyramids.

The base is made up of associates. Every firm is a little different in the middle, but all are designed for money to flow to a relatively small group of equity partners at the very top.

Some prestigious New York firms are starting to have pyramid envy. That’s because ...