How is compensation for non-equity partners determined at your firm?

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The equity partners in control of comp will usually start by looking at how much revenue you’ll bring in as a “partner” (calculated by multiplying your new, higher “partner rate” charged to clients against your annual total hours expected to be billed, say 2,000) and work backwards to give you a salary equal to a senior associate plus a healthy kicker, say another $50k a year depending on the numbers. The key is to remember that non-equity partnership, a fiction only lawyers could think of and an oxymoron phrase in an of itself, heavily favors ownership since the non-equity partner, with the new increased “partner” billing rate, dramatically boosts revenue and passive income flowing back to the equity partners. The ratio of what you’ll generate in revenue to what you’ll be paid is bigger than the ratio of revenue : salary for an associate, so you end up being diluted as a non-equity partner.

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