The level of revenue contribution required to join top law firms’ equity partnerships has increased significantly over the last three years, making a hybrid approach to partner income appealing to firms wishing to retain or recruit a promising partner whose book of business doesn’t yet measure up to snuff.
So-called “hybrid” partnership status—in which partners receive some portion of their income in the form of equity and the other as a fixed salary—isn’t new to the industry but industry watchers say it’s become a popular solution for firms with high levels of entry to their equity tiers.
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