Equitable life?

A pig called Napoleon once observed that, although all animals are equal, some are more equal than others.

What was true for the cloven-hoofed comrades of Manor Farm is now, it appears, also true for the bipedal inhabitants of the City’s law firms as the holy grail of partnership has become increasingly tinged by the suspicion that, for many, the title of partner remains nominal at best.

Research by The Lawyer has found that the proportion of partners sharing in the equity bounty has dropped by 8 per cent over the last five years (see story).

So while making partner still no doubt means a night or two on the bubbly stuff and, if you’re lucky, a move to a slightly bigger office, for many, the chance to share in those profits you’ve sweated bullets to help create is as distant a prospect as a Joy Division reunion.

Though, with law firms not quite the money-printing factories of days gone by, it might no longer be everyone’s ultimate ambition to share in the misery.


Also on TheLawyer.com: More on the salaries/equity partner divide; Links latest firm to enter high yield arms race; and Lord Bingham remembered.

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