1,000,000 + Attorneys and Legal Staff - Legal employers hire more people on LawCrossing than any other site.
Defense Attorney for Accused 9/11 Terror Attack Leader Resigns
Defense Attorney for Accused 9/11 Terror Attack Leader Resigns
World Bar Leaders Coming to Philadelphia for World City Bar Leaders Conference
World Bar Leaders Coming to Philadelphia for World City Bar Leaders Co...
Marijuana Sellers Banned from Operating in Washington Town
Marijuana Sellers Banned from Operating in Washington Town
Legal Defense Funds of Suspended California Senators Receiving Donations
Legal Defense Funds of Suspended California Senators Receiving Donatio...
Your profile matches an open legal position. Apply now!
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.

What

 job title, keywords

Where

 city, state, zip



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
Medical Malpractice Defense Associate
USA-NY-White Plains

Our client is currently seeking a Defense Medical Malpractice Associate with the following: JD from an accredited law school Must be admitted to practice in the state of New York 2-...