The compensation gap between equity partners and nonequity partners at the nation’s largest law firms is growing, according to a new survey by legal search consultant Major, Lindsey & Africa.
Equity partners averaged $971,000 in annual compensation, versus $338,000 for nonequity partners, according to the consultant’s third biennial survey of partner pay at large law firms in the United States. While average pay for equity partners has risen nearly 20 percent from $811,000 since MLA’s first survey in 2010, nonequity pay has remained relatively flat, increasing just $2,000 over the same period.
