So in one sense it’s easier to make equity partner at JD, but it might mean less once you do: profits per equity partner (PPEP) at Jones Day were just shy of $1.3 million in the latest Am Law 100 rankings, which is quite low by Biglaw standards in 2021. In the top 10 largest firms, the only firm with a single-tier, all-equity partnership is Jones Day.But K&E wasn’t even the highest in this regard at Greenberg Traurig, more than half the lawyers are partners (or “shareholders,” in GT parlance). I wasn’t shocked to see that at Kirkland & Ellis, where you get the title of (nonequity aka “nonshare”) partner if you stick it out for six years or so, more than 40 percent of lawyers have the partner title.
But I was still surprised to see that at most of the top 10 firms, about a third of lawyers carry the “partner” title. The title of “partner” doesn’t mean as much as it used to, given the rise in the ranks of nonequity partners (a group that grew in size last year by 3 percent, even though overall lawyer headcount at NLJ 500 firms declined by 0.1 percent). The personal data contained in The Law List should not be used for any other purposes. I was surprised by how high the percentages were for partners as a percentage of total attorneys. The Law List is published by the Law Society for the purpose of facilitating the public and members of the Law Society in identifying and locating solicitors, foreign lawyers and law firms registered with the Law Society.In the top 10, the firm where equity partners make up the smallest slice of total headcount is DLA Piper, where they amount to a little more than 10 percent of all attorneys.And Baker McKenzie’s headcount actually decreased last year, by 2.3 percent, meaning that it was even bigger in 2019. The headcount of the largest firm, Baker McKenzie, is a staggering 4,699 - 700 lawyers more than second-place DLA Piper.How can legal leaders continue to cost-effectively address L&E investigations in this current economic climate? Join us on November 17th to find out.
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