Senior commercial lawyers have deeply contradictory attitudes to salaried partners. On one hand, the growth of this breed is often held up as evidence that law firms are being managed as proper businesses and therefore introducing more tiers of staff. And yet, as can be seen from this week's Big Question, partners are concerned about the implications inherent in the swelling band of non-equity partners at top UK firms. The fear is that continually expanding non-equity partner ranks will store up problems for many practices and inevitably weaken the partnership model. It is one thing to weaken a model if you are transitioning to a replacement, but the cynics would justifiably argue that many firms have little coherent concept of how to replace a partnership structure that has served them so well.
May 05, 2010 at 07:04 PM
1 minute read
The original version of this story was published on Legalweek
The increase in salaried partners is unsustainable
Senior commercial lawyers have deeply contradictory attitudes to salaried partners. On one hand, the growth of this breed is often held up as evidence that law firms are being managed as proper businesses and therefore introducing more tiers of staff. And yet, as can be seen from this week’s Big Question, partners are concerned about the implications inherent in the swelling band of non-equity partners at top UK firms.
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