In the wake of Dewey & LeBoeuf’s collapse last year, Legal affiliate The American Lawyer published an article we had written about an issue that turned out to be a major contributing cause of that implosion: the wide compensation spreads within the equity partnership of large law firms. With the release earlier this year of regular Legal affiliate The Am Law Daily contributor Steven J. Harper’s book, The Lawyer Bubble, and a recent American Lawyer survey that detailed the compensation spreads at many large firms, the issue has gained even greater attention.
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