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Profit Per Partner
Posted: Thu Aug 30, 2012 9:35 pm
by Anonymous User
How useful is a metric is this? When used in conjunction with partner associate ratio?
If a partner associate ration is .3 then, factoring in laterals and those who self select themselves out of the running, is it safe to assume that partnership chances are 20 to 30 percent?
Curious to thoughts
Re: Profit Per Partner
Posted: Thu Aug 30, 2012 9:37 pm
by 09042014
Anonymous User wrote:How useful is a metric is this? When used in conjunction with partner associate ratio?
If a partner associate ration is .3 then, factoring in laterals and those who self select themselves out of the running, is it safe to assume that partnership chances are 20 to 30 percent?
Curious to thoughts
A lot of firms basically only take lateral partners.
Re: Profit Per Partner
Posted: Thu Aug 30, 2012 9:39 pm
by Anonymous User
It wouldn't be wise to try to account for people who self select out, because you don't know if you will self select out until you're actually an associate. Some people wind up loving what they do, but it seems like most people don't.
Re: Profit Per Partner
Posted: Thu Aug 30, 2012 9:51 pm
by Anonymous User
Anonymous User wrote:It wouldn't be wise to try to account for people who self select out, because you don't know if you will self select out until you're actually an associate. Some people wind up loving what they do, but it seems like most people don't.
Is there a better method to determining the average potential return if you make partner and the average likelihood of doing so?
Re: Profit Per Partner
Posted: Thu Aug 30, 2012 10:06 pm
by Anonymous User
Anonymous User wrote:How useful is a metric is this? When used in conjunction with partner associate ratio?
If a partner associate ration is .3 then, factoring in laterals and those who self select themselves out of the running, is it safe to assume that partnership chances are 20 to 30 percent?
Curious to thoughts
TBH, chances of making partner should not enter into consideration at this point in your career unless you're going to an elite boutique like KVN. At my old BigLaw firm (equity partners only), I saw too many exceptional senior associates get passed over for laterals after they wasted 8-10 years of their life working 12+ hours per day. They all lateraled as partners into smaller firms or went in-house. The business savvy ones took the same route as mid-level associates. It is literally hit or miss.
To me, PPP is only useful for assessing how many dead weights there are in the firm, which may speak to its overall financial stability.
Re: Profit Per Partner
Posted: Thu Aug 30, 2012 10:07 pm
by 09042014
Clint is afraid of terrorists. What a bitch.
I'd try them at 1 WTC.