I am wondering if it is better to lateral in as a non equity partner or as a senior counsel. I keep hearing that the senior counsel role is better and less stress but I am wondering if the NEP role offers more job security because it should be easier to bring in clients and keep yourself busy.

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Depends on the firm, but some will not offer partnership to senior lawyers who come in as Sr Counsel. Of course, most will require at least a small book before you can come as a NEP. If you can pick the title, then because the comp can be close, I would look at the billable vs collectible requirements and the orgination requirements. And, be brutally honest with yourself about whether you can keep yourself busy enough to hit the NEP targets. If you start as Sr Counsel, you might want to get a solid commitment about what you need to do to be offered a NEPship and the earliest the offer would be made.

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Yes, this.

Also, find out if there is an up or out requirement for counsel on the partnership tract and if NEPs have W2 or K1 status, which will effect not only taxes but also benefits and who pays for practice related expenses.

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