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Chief
Can’t find it. OP, PPP isn’t really a good measure of earnings for partners, for a bunch of reasons. First, the number can be manipulated, and often is by firms wanting to rise in rankings. Second, averages are skewed in many firms by giant comp deals for a relatively small number of people with huge books. At those firms the median comp level tends to be meaningfully lower than the mean. Third, even though most firms have abandoned lockstep, comp still is impacted by seniority. Most new partners enter at the bottom of the scale and slowly accumulate shares over a number of years. Bonuses are used to keep people happy when they outperform their share level. But bonus are earned every year. Share levels tend to go up and down slowly. Lastly, you have to explain better what you mean by “successful.” For a partner billing ours isn’t really success from a comp perspective. It’s more like a ticket to admission. The big dollars typically come from a big book.
Hope that helps. Happy to answer other questions.
Chief
It's reasonable to assume the average partner will
make 75-80% of that (Trial Lawyer 1, please correct me if I'm wrong). Except for maybe Cravath there are partners making a boatload of money (much more than the others) pushing that average upwards.
Chief
Hey A1. How’d you guess that I might crash this discussion?
Here is one of my prior posts on this topic. I’ll try to find the other.
https://joinfishbowl.com/comment_r4vpb