Partner salary

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citrus2010
Posts: 58
Joined: Thu Feb 04, 2010 6:03 pm

Partner salary

Postby citrus2010 » Fri Feb 26, 2010 12:40 am

I know associate salaries are somewhat easy to find, but at these firms that start around $90,000 - $120,000 for first year associates and climb slowly through the first 5 or so years, what do partners make? Just curiously looking for an average of what a good lawyer in a good firm makes after 15 years.

Thanks!

loveistheway
Posts: 29
Joined: Tue Oct 06, 2009 2:15 pm

Re: Partner salary

Postby loveistheway » Fri Feb 26, 2010 12:45 am

millions

citrus2010
Posts: 58
Joined: Thu Feb 04, 2010 6:03 pm

Re: Partner salary

Postby citrus2010 » Fri Feb 26, 2010 12:51 am

How accurate and realistic! Thanks. :) Give me some believable numbers. An average means averaging all partners. Not the top 1%.

richmondguy3000
Posts: 18
Joined: Tue Feb 23, 2010 1:10 am

Re: Partner salary

Postby richmondguy3000 » Fri Feb 26, 2010 12:53 am

NICE!!! I used to work in a big accounting firm and partners started at 280K - most of them maxing out at 500k at retirement time. I am glad I am going to law school as if and when I make a partner those tuition dollars will pay a 100 fold.

loveistheway
Posts: 29
Joined: Tue Oct 06, 2009 2:15 pm

Re: Partner salary

Postby loveistheway » Fri Feb 26, 2010 12:55 am

I only know one partner...ex-partner. He recently left his post a senior partner of M & A to go work in investment banking. For his firm, entry level partners were pushing a million, he was significantly north of that.

citrus2010
Posts: 58
Joined: Thu Feb 04, 2010 6:03 pm

Re: Partner salary

Postby citrus2010 » Fri Feb 26, 2010 12:58 am

A million!? NYC?

Renaixença
Posts: 65
Joined: Mon Jan 11, 2010 6:40 pm

Re: Partner salary

Postby Renaixença » Fri Feb 26, 2010 12:59 am

richmondguy3000 wrote:NICE!!! I used to work in a big accounting firm and partners started at 280K - most of them maxing out at 500k at retirement time. I am glad I am going to law school as if and when I make a partner those tuition dollars will pay a 100 fold.


Image
Last edited by Renaixença on Fri Feb 26, 2010 1:12 am, edited 1 time in total.

Renzo
Posts: 4265
Joined: Tue Dec 02, 2008 3:23 am

Re: Partner salary

Postby Renzo » Fri Feb 26, 2010 1:07 am

citrus2010 wrote:I know associate salaries are somewhat easy to find, but at these firms that start around $90,000 - $120,000 for first year associates and climb slowly through the first 5 or so years, what do partners make? Just curiously looking for an average of what a good lawyer in a good firm makes after 15 years.

Thanks!
The biglaw firms almost all announce per partner profits, because it's a huge mine-is-bigger-than-yours competition (just like everything else in biglaw). Some are as high as 3 million/yr (+), most are around a million. But this doesn't usually count non-equity partners, and the equity partners may or may not actually take home all those profits.

I don't know of any midlaw firms that announce PPP, because they don't usually succumb to the chest-puffing that the big firms do, so finding out info for the firms you're asking about will probably be impossible.

citrus2010
Posts: 58
Joined: Thu Feb 04, 2010 6:03 pm

Re: Partner salary

Postby citrus2010 » Fri Feb 26, 2010 1:17 am

That's why I was asking. I researched some, but to no avail. I'm assuming someone knows a parter in a midsize firm that isn't entirely closed up about his earnings. Something!

Renaixença
Posts: 65
Joined: Mon Jan 11, 2010 6:40 pm

Re: Partner salary

Postby Renaixença » Fri Feb 26, 2010 1:39 am

citrus2010 wrote:That's why I was asking. I researched some, but to no avail. I'm assuming someone knows a parter in a midsize firm that isn't entirely closed up about his earnings. Something!


I know two partners in California. They both make around $70,000 each.

They're not the lawyering kind of partners, though.

jtoppe2
Posts: 33
Joined: Sat Feb 06, 2010 6:41 pm

Re: Partner salary

Postby jtoppe2 » Fri Feb 26, 2010 1:42 am

Renaixença wrote:
citrus2010 wrote:That's why I was asking. I researched some, but to no avail. I'm assuming someone knows a parter in a midsize firm that isn't entirely closed up about his earnings. Something!


I know two partners in California. They both make around $70,000 each.

They're not the lawyering kind of partners, though.



hahahhahahaha

citrus2010
Posts: 58
Joined: Thu Feb 04, 2010 6:03 pm

Re: Partner salary

Postby citrus2010 » Fri Feb 26, 2010 1:43 am

Best post of the evening! Thanks.

User avatar
RVP11
Posts: 2774
Joined: Tue Nov 06, 2007 6:32 pm

Re: Partner salary

Postby RVP11 » Fri Feb 26, 2010 1:48 am

This is a little old, but here you go:

http://www.law.com/special/professional ... 0_ppp.html

Many/most partners don't earn "salaries." If they do, their salaries are often lower than a first year associate's.

Typically an equity partner's pay is the total of their draws that year minus their investments in the firm. Some firms require partners to pay in quite a bit, some don't. But PPP is still a decent barometer of what the average equity partner at a given firm is making.

Renzo
Posts: 4265
Joined: Tue Dec 02, 2008 3:23 am

Re: Partner salary

Postby Renzo » Fri Feb 26, 2010 2:24 am

JSUVA2012 wrote:This is a little old, but here you go:

http://www.law.com/special/professional ... 0_ppp.html

Many/most partners don't earn "salaries." If they do, their salaries are often lower than a first year associate's.

Typically an equity partner's pay is the total of their draws that year minus their investments in the firm. Some firms require partners to pay in quite a bit, some don't. But PPP is still a decent barometer of what the average equity partner at a given firm is making.

I was going to bitch that those were 10 years old, but at as far as the V50 firms, they are pretty close to what's been announced for last year. I'll bet some of the 100-200 firms (likely to be the firms OP was asking about) are doing a little better these days.

msbeautifulbasham
Posts: 206
Joined: Sat Mar 21, 2009 9:00 pm

Re: Partner salary

Postby msbeautifulbasham » Fri Feb 26, 2010 2:31 am

Renaixença wrote:
citrus2010 wrote:That's why I was asking. I researched some, but to no avail. I'm assuming someone knows a parter in a midsize firm that isn't entirely closed up about his earnings. Something!


I know two partners in California. They both make around $70,000 each.

They're not the lawyering kind of partners, though.

Hahahhaaha!! Thanks for the laugh. Perfect response!




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