Law Firms Grapple With Nonequity Partner Pay ‘Friction’
By Andrew Maloney
CenterPeak's Jeff Lowe reveals the harsh reality facing counsel-level attorneys: "You have associates making almost $500,000, so in a sense, [counsel] get squeezed by firms, because the firms feel like, 'What options do we have?'" With senior associate and counsel pay overlapping, and firms rapidly expanding nonequity partner tiers, counsel positions are becoming increasingly precarious. Lowe explains the mobility challenge: "Generally speaking, they're less likely to have business than someone who has a partner designation."
