Wages of spin - the rise of salaried partners
When it comes to employment prospects at the UK's leading law firms, the global recession has been the bloodiest period in recent memory. There is, however, one category of senior lawyer whose ranks have swelled dramatically - that of the salaried partner. Legal Week research reveals that collectively the top 30 UK law firms added 435 lawyers to their non-equity partner headcount between 2007 and 2009. Far from reflecting a profession in rude health, however, this phenomenon is a direct result of the fight by leading law firms to manage their way through the recession.
The proportion of salaried partners has soared during the recession. Friederike Heine asks if this is financial engineering or sound management
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