Most of the biggest law firms in the US have a two-tier partnership model, where some partners have equity in the firm while others don’t. So it was a bit of a surprise when the firm Ropes & Gray announced last month it will be sticking with its one-tier model.
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Is this a sign that the trend toward non-equity partners is starting to reverse? Not according to today’s guests on our podcast, On The Merits, law firm consultant Janet Stanton with Adam Smith Esq. and legal recruiter Scott Love with The Attorney Search Group.
They talk with Bloomberg Law editor Jessie Kokrda Kamens about how prevalent non-equity partnerships are, how they benefit law firms, and what firms need to avoid doing to make sure they work.
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