ALM Intelligence’s annual New Partners Survey polls hundreds of newly-promoted partners at large law firms on various topics including their path to partnership, job satisfaction, client relationships, views on the industry as a whole, and their firms specifically.
In the 2022 survey, 68% of the 480 respondents were promoted into a non-equity tier, while 32% were brought into equity partnerships. Compared to the survey in 2019, where the split was 56% non-equity to 44% equity, the sample is representative of the trend of ever-expanding non-equity tiers, while equity partnerships are diligently pruned to maintain profitability for the highest earners.
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