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News for New Attorneys Discussion

Associates Making Partner (Salary)

thinSkullP 1/30/2008 3:15:29 PM	Original Post - I read a blurb in the Legal Times (Jan 30) about senior associates actually making as much, if not more than junior partners, which is another reason to rethink the whole climb to partnership. The reason is that partners often pay extra expenses (in addition to the capital contribution) that are covered for senior associates. From a working hours perspective, people say that making partner is like winning a pie-eating contest in which the prize is more pie; now, it doesn't even seem to carry the huge monetary payoff that you'd expect, so is it worth it?

thinSkullP
1/30/2008 3:15:29 PM

Original Post -

I read a blurb in the Legal Times (Jan 30) about senior associates actually making as much, if not more than junior partners, which is another reason to rethink the whole climb to partnership. The reason is that partners often pay extra expenses (in addition to the capital contribution) that are covered for senior associates. From a working hours perspective, people say that making partner is like winning a pie-eating contest in which the prize is more pie; now, it doesn't even seem to carry the huge monetary payoff that you'd expect, so is it worth it?

lawgirl27 8/19/2008 7:14:37 PM	Hello! Remember that you''re taking on additional liability when you make partner. That partner down the hall may be raking in 500K this year, but what kind of liability is he creating for you with his million-dollar cases/clients? That''s the ugly flip side of making partner. Don''t scoff, I''ve seen presidents of the state bar association crash and burn on the way to personal disbarment and bankruptcy. The partner path works out really well for some people, I won''t deny that. The most financially successful attorneys I know, however, are partners in small firms they started up by themselves or with one or two friends. Why waste your energy making the people at the top of the big firm food chain rich? Do a few years on the non-partner path to get some experience. Then take those 70 hour weeks and build something for yourself.

lawgirl27
8/19/2008 7:14:37 PM

Hello! Remember that you''re taking on additional liability when you make partner. That partner down the hall may be raking in 500K this year, but what kind of liability is he creating for you with his million-dollar cases/clients? That''s the ugly flip side of making partner.

Don''t scoff, I''ve seen presidents of the state bar association crash and burn on the way to personal disbarment and bankruptcy.

The partner path works out really well for some people, I won''t deny that. The most financially successful attorneys I know, however, are partners in small firms they started up by themselves or with one or two friends. Why waste your energy making the people at the top of the big firm food chain rich? Do a few years on the non-partner path to get some experience. Then take those 70 hour weeks and build something for yourself.

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