"Biglaw firms with single partnership tiers are now few and far between, with more big-name firms showing that they're ready, willing, and able to welcome nonequity partners to their ranks. One top Biglaw firm, however, recently decided to stay true to its single-tier partnership model, announcing a near-record size, all-equity partnership. This summer, we reported that Ropes & Gray, the #7 firm in the country by gross revenue, had been flirting with creating a nonequity partnership tier."
"That move gave other highly ranked firms permission to tread the same path, including Paul Weiss, which announced its new two-tier partnership plan in March 2024; WilmerHale, which added a nonequity partnership tier in August 2024; Cleary, which announced its own new partnership platform in October 2024; Skadden, which began considering a nonequity level in February 2025; Schulte Roth & Zabel, which announced an income partnership tier in March 2025; and Debevoise, which created its nonequity partnership track in June 2025."
Ropes & Gray maintained a single-tier, all-equity partnership and announced a near-record-sized partner class. The firm considered a nonequity partnership track but concluded it was premature to implement one. The decision followed a rigorous review that examined the partner cohort, talent retention, and progression rates to partner. The broader Biglaw market has trended toward creating nonequity or salaried partner tiers between November 2023 and June 2025, with several elite firms adopting two-tier structures or exploring nonequity levels while others remain committed to traditional all-equity models.
Read at Above the Law
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