Free Market Evaluation - Send us your resume and we will give you free feedback
Oklahoma and Nebraska File Case in Supreme Court over Marijuana Legalization
Oklahoma and Nebraska File Case in Supreme Court over Marijuana Legali...
Robert and Arlene Holmes Ask for Life in Prison for Their Son
Robert and Arlene Holmes Ask for Life in Prison for Their Son
Ban on Cuban Cigars to be Lifted in United States
Ban on Cuban Cigars to be Lifted in United States
Boston Bomber Appears in Boston Federal Court
Boston Bomber Appears in Boston Federal Court
Your profile matches an open legal position. Apply now!
Legal Job Listings

Non-equity Partners In “Precarious Position”

At least two more law firms are considering following the lead of DLA Piper, requiring nonequity partners to buy into equity status, according to William Henderson of Indiana University law school.

Henderson told the National Law Journal [Req. Login] that the move is aimed at improving law firm balance sheets. “It’s getting rid of a fixed cost. It’s moving to more of an eat-what-you-kill [model].”

Last month, DLA Piper invited 275 nonequity partners to make capital contributions and join the equity ranks. The capital requirement is a percentage of budgeted net income, and could reach $150,000 per lawyer. The idea is to supply cash to the firm and motivate the promoted partners to bring in work.

The story says nonequity partners could be in the most precarious position at law firms. The average increase in the number of nonequity partners at the nation’s top law firms has been outpacing that of equity partners. In the past, nonequity lawyers earned about $300,000 a year to handle legal work, but this year there is less work to go around.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Via ABA Journal.

Non-equity Partners In "Precarious Position" by

Tagged: , , , ,

Posted by on December 15, 2008. Filed under Legal News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

 

 

Job of the Day
Legal Assistant / Secretary - Bilingual
USA-GA-Gainesville

~~Rapidly expanding General Law Firm seeking a Legal Assistant/Secretary to join our team at our Gainesville, Georgia location !  Our firm is a goal/target oriented, fast-paced environment with a...

Related Posts: