Average compensation—all partners rose by 4% in 2019, compared with an increase of 5.1% in 2018. Eighty-one firms posted increases, compared with 80 the previous year. Seventeen firms posted double-digit gains, while one posted double-digit losses.

Compensation—all partners is based on the total payout to a firm’s entire partnership, regardless of equity status. Because it takes both equity and nonequity partners into account, we consider it to be a more complete assessment than profits per partner, which is based only on distributions to equity partners.

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