Perhaps the biggest reason is because partners these days seem less willing to share ownership of a law firm with other lawyers... Awarding partnership after longer periods of employment at a shop means that a firm does not have to give away its crown jewels to lawyers anytime soon and that attorneys really need to work hard to earn partnership.
Another reason why so few law firms seem to still stick to an eight-year partnership track is because numerous law firms have moved away from explicit and defined employment benefits... Many law firms have benefits from promising employees more fluid employment benefits so that expectations are low among those who work at a shop.
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