BCG Attorney Search has just released its much-anticipated Law Firm Partner Compensation Report (2024–2025), providing a detailed look at partner pay across firm size, geography, and practice specialization.

If you’re a partner, aspiring partner, or legal professional planning your career trajectory, this is essential reading.

Learn more from here: Law Firm Partner Compensation Report (2026): Salary Trends by Firm Size, Region, and Practice Area

  

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Headlines You Need to Know

• Average partner compensation has surged, now hovering around $1.4 million in 2025 — marking a 26% rise since 2022.
• Equity partners continue to command a significant premium, with median compensation near $1.9 million, while non-equity partners average about $558,000.
• Among U.S. AmLaw 100 firms, profits per equity partner (PPEP) are averaging approximately $3 million.
• Leading U.S. firms are hitting exceptional figures—Kirkland & Ellis reports a PPEP of $9.25 million, with several other firms (e.g. Wachtell Lipton, Quinn Emanuel) ranging between $7M–$9M.

Breakdown by Firm Size & Practice Area

Firm Size

• Large, AmLaw-tier firms offer the highest partner pay, often measured in the multi-million dollar range, thanks to deep client bases, high bill rates, and significant leverage.
• Mid-size and regional firms offer more moderate compensation, with steeper variation depending on client portfolios and local market strength.
• Boutique or niche practices may yield lower averages but offer upside for partners with strong client development and specialization.

Practice Area

• Corporate/M&A remains the top-paying field, followed closely by Tax & ERISA, Litigation, IP, Energy, and Healthcare.
• Labor & Employment and generalist practices tend to fall lower on the pay scale, though top performers in those areas can still exceed market averages.
• Highly specialized sectors continue to command significant premiums, reflecting high client demand and complex legal work.

Regional & Global Compensation Dynamics

• Geography explains large pay gaps: U.S. markets, especially New York, California, and Washington, D.C., remain compensation powerhouses.
• The London and U.K. market has also seen rising benchmarks. For instance, Macfarlanes now reportedly pays full-equity partners around £3.1 million, surpassing some Magic Circle peers.
• The surge in global lateral partner movement, particularly into London and Europe, reflects how compensation expectations drive cross-border competition.

⚙️ Shifting Models & Firm Culture

• Many firms are retracting from strict lockstep compensation and embracing merit-based systems tied to origination, revenue contribution, and individual performance.
• In hyper-profitable practices, top partners can see compensation exceeding $20 million in a single year at elite firms—a testament to competition for origination credit and client ownership.
• Still, leaders caution that overemphasis on pay can erode firm culture. Maintaining collegiality, trust, and long-term loyalty is increasingly viewed as critical.

💡 Strategic Takeaways for Partners & Firms

• Benchmark smartly – Don’t just compare to your region; compare by firm size and practice specialty.
• Equity tiers matter – The split between equity vs. non-equity partner compensation remains vast and strategic.
• Performance amplification – Originations, team leadership, and cross-selling matter more than ever.
• Culture counts – High pay may attract top talent, but retaining it demands meaningful purpose, autonomy, and respect.

Learn more from here: Law Firm Partner Compensation Report (2026): Salary Trends by Firm Size, Region, and Practice Area