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Mentor
About a mil.
Mentor
Senior Income Partner. A few years ago they rebranded Non-Share Partner (NSP, aka NEP) to be Income Partner, though most of us still just say NSP because it rolls off the tongue easier. As part of that they also created a new sub-class of NEP called Senior Income Partner or SIP.
It’s the exact same thing as IP/NEP except that internally among the partnership it is treated as a permanent and special designation that comes with usually a pretty significant fixed comp package (like I said there examples as high as $2m). It’s like you’re officially NOT an EP but also officially ARE a senior and valued person. Kind of like Counsel at many firms (which K&E doesn’t have, outside of a few old randos that I think brought the title when they lateraled).
This position and the high fixed comp has de facto existed for a long time, but I think some senior NEPs making $1-2m were annoyed to be in the same NEP category as essentially 7th year associates, so a divide was created on paper.
Of course, it’s all just super internal ego stuff, because both externally AND internally with associates/staff, they’re all just “Partner” from 7th years all the way up to the chairman of the firm. Personally all I’ll care about when my time comes is the comp, they can call me junior assistant paralegal as long as the millions are hitting my bank account lol
My friend is a first year NEP (9th year) at a V10 and his comp is $1M.
Thank you thank you!
700 as a first year (8th overall year as lawyer), 900 as a second year, expect to be >1mm this year. Outside v10 but like standard highly ranked market compensating firm
Thank you! Appreciate the data point