What do you think of this trend toward promoting massive classes of NSP? Forum
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Anonymous User
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Re: What do you think of this trend toward promoting massive classes of NSP?
This is primarily driven by staffing needs. Firms desperately need bodies to meet their workload demands, it costs very little to convert senior associates to income partner, and if they don't offer title elevations they'll lose senior associates to firms that do. I've seen multiple 7th-years and up lateral directly into partner positions, which rarely happened pre-2020.
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Re: What do you think of this trend toward promoting massive classes of NSP?
Wait isn't STB still modified lockstep, even with the addition of more NSP's? And is there anything to be made of the distribution being skewed toward Funds? I get funds is hot but will it continually beat out the likes of M&A/CapM for partnership prospects?
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Re: What do you think of this trend toward promoting massive classes of NSP?
Anonymous User wrote: ↑Fri Nov 26, 2021 7:55 pmWait isn't STB still modified lockstep, even with the addition of more NSP's? And is there anything to be made of the distribution being skewed toward Funds? I get funds is hot but will it continually beat out the likes of M&A/CapM for partnership prospects?
Pretty sure STB is still modified lockstep. Spread changed from 4:1 to 6:1 in recent years after Kirkland's raids. So the most junior equity partner should take home $1.5 million while top partners earn around $9 million. (https://www.wsj.com/articles/being-a-la ... 1565362437)
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