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Law Firm Partner Compensation: Equity vs Non-Equity and ROI Explained

Law firm partnership has never been a simple “make partner and share profits” milestone. Today’s partnership landscape is increasingly tiered, metric-driven, and designed to manage firm profitability—often by expanding non-equity roles while concentrating equity ownership. This recent report....

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The World's Largest Law Firms by Revenue in 2025

The global legal industry is a cornerstone of modern economies, generating immense revenue while addressing the complex needs of corporations, governments, and individuals. At the forefront of this sector are the world’s largest law firms, ranked by revenue, often dubbed "Big Law." These firms wie....

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How to Evaluate Law Firm Culture for Career Growth

Executive SummaryLaw firm culture profoundly shapes attorney satisfaction, retention, and advancement. With associate attrition fluctuating between 18–26% in recent years and major gaps in work-life norms across firm types, aligning with the right culture is a career-critical decision.....

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Winning the War for Talent: My Guide to Recruiting, Compensating, and Growing Small Law ....

Over my 25‑year career in legal recruitment, I’ve seen firsthand how small law firms and solo practitioners face unique challenges in hiring top legal talent and sustaining long-term growth. In one particularly candid conversation with a Houston-based firm owner, I discussed the hurdles of high ....

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Why Attorneys Leave Law Firms: The Real Reasons Behind Attorney Turnover and How to Build ....

The legal profession is facing an unprecedented crisis: 20% of law firm associates left their positions in 2024, according to the latest NALP Foundation report—up from 18% in 2023. Meanwhile, attorneys report feeling burned out 42% of the time, with mid- and senior-level associates experiencing bu....

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Issues Faced Between Clients and Their Lawyers

The dissonance between what lawyers think they’re selling and what clients want to buy is often stunning. Nor is the p....

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Talk and Listen to Your Clients

Now, more than ever. If your firm has ever considered conducting formal client feedback interviews, but has been unable ....

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Taking Action Based on Client Preferences

Way back when, lawyers served as holistic counselors to their clients, offering sage advice in a host of areas, includin....

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Retiring Partners and Unfunded Law Firm Commitments

The issues surrounding retiring partners and compensation have created problems for many law firms. While not universall....

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The Argument for Eliminating Lock-Step Partner Compensation

Eliminate Lock-Step Model and Reward Performance, Not Time ServedBeginning at the end of 1999, law firms began accelerat....

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Think Differently, Specialize and Prosper

This is an exciting time to be a new partner in a law firm. The legal market has experienced several years of record pro....

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The Price of Leadership in Law Firms

Simply put, if the job of a manager is "to make the trains run on time," the job of a leader is to ask where we should l....

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Capital Planning for Law Firms

As law firms review their capitalization, they need to consider the costs of operations and strategic initiatives as wel....

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Pay to Win—How to Make Your Law Firm's Compensation System an Asset

Nothing can create more tension and controversy in a law firm than partner compensation. At their best, compensation sys....

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Planning for Partner Retirement

A partner’s retirement can have an adverse financial impact on a law firm unless proper planning is done. This is part....

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The Emphasis on New Clients and Partner Compensation

There are as many variations of partner compensation plans as there are law firms. Most are well intended and targeted a....

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Can Partnership ''Survive'' in Modern Giant Law Firms?

One of the most striking changes in the evolution of the American legal market over the last 20 years or so has been the....

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How Mid-Sized Firms Can Survive

Has your firm identified its business goals for this year (and beyond)? Have you developed long-term strategies for secu....

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Compensation Issues

At too many firms around the country, the primary roles of the first-year associate are pretty simple: Generate a signif....

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Law Firm Retirement Plans

Don't be deceived. Unfunded retirement plans are antiquated relics that can drain valuable resources and severely limit ....

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