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Author Topic: Partner Incomes  (Read 2264 times)

ace0260

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Partner Incomes
« on: May 19, 2008, 01:58:26 AM »
If a Latham partner gets 1 million on average, do they still get a salary? if so how much?

Here are the links to average profit per partner: http://www.law.com/special/professionals/amlaw/amlaw200/amlaw200_ppp.html


Interested to see how much partners make at the end of the day in big legal markets for amlaw top 50.

ricefigaro

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Re: Partner Incomes
« Reply #1 on: May 19, 2008, 09:04:33 AM »
Just so you know that list is outdated. 2007 PPP is here:

http://www.xoxohth.com/thread.php?thread_id=761861&mc=54&forum_id=2


$Bill

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Re: Partner Incomes
« Reply #2 on: May 19, 2008, 10:07:55 AM »
http://www.jdunderground.com/thread.php?threadId=13706

Fun information about what goes on when you're a no-fault partner, up to 150k a year.

Edit: read down a bit, its a real post, despite the jokes.

moonpie

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Re: Partner Incomes
« Reply #3 on: May 19, 2008, 10:30:33 AM »
A high PPP is BAD for associates - it generally means they're really good at wringing a bunch of productivity from you, the hapless associate.

nealric

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Re: Partner Incomes
« Reply #4 on: May 19, 2008, 10:43:54 AM »
PPP ca be a misleading statistic.

At some firms the difference between the highest paid and lowest paid partner can be a factor of 9 or more. IF PPP is $1M, you might see one partner (big rainmaker) making $3M with a large group making $500k. There are even some firms where the most jr. partners take a pay CUT from the most senior associates for their first few years as partner. Non-equity partners skew this even further.

Finally, the PPP numbers are often manipulated with creative accounting.
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AmyWaxFanClubPresident

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Re: Partner Incomes
« Reply #5 on: May 19, 2008, 03:44:26 PM »
In some cases this may be true, but your overall conclusion that a high PPP is bad for associates is wrong.

A high PPP is BAD for associates - it generally means they're really good at wringing a bunch of productivity from you, the hapless associate.
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botbot

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Re: Partner Incomes
« Reply #6 on: May 19, 2008, 06:17:27 PM »
PPP ca be a misleading statistic.

At some firms the difference between the highest paid and lowest paid partner can be a factor of 9 or more. IF PPP is $1M, you might see one partner (big rainmaker) making $3M with a large group making $500k. There are even some firms where the most jr. partners take a pay CUT from the most senior associates for their first few years as partner. Non-equity partners skew this even further.

Finally, the PPP numbers are often manipulated with creative accounting.

Yep, everything above is spot on.

themanwithnoname

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Re: Partner Incomes
« Reply #7 on: May 23, 2008, 05:47:22 PM »
A high PPP is BAD for associates - it generally means they're really good at wringing a bunch of productivity from you, the hapless associate.

unless you like not getting laid off.

TrumpWho??

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Re: Partner Incomes
« Reply #8 on: May 23, 2008, 11:11:13 PM »
All shareholders/partners/owners, that are considered active and not passive owners, of any company must take a salary and pay social security and medicare taxes on that income.

themanwithnoname

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Re: Partner Incomes
« Reply #9 on: May 24, 2008, 10:16:57 AM »
All shareholders/partners/owners, that are considered active and not passive owners, of any company must take a salary and pay social security and medicare taxes on that income.

but the salary that they get is a chunk of the profits in the firm. The PPP is really the average income of the partners.