"The vast majority of Am Law 100 firms have both income and equity partner positions, and so it aligns us with the market. We also did it because we think it gives our prospective promotions, whether they're internal or external, in some circumstances, time to grow into their roles."
"As part of the new promotion process, attorneys internally promoted within Arnold & Porter will generally start out as income partners before being eligible for the equity tier. We also did it to provide the firm additional opportunities to compete in the lateral market."
The Am Law 100 has fully normalized the salaried partner era, with nonequity partnership tiers becoming standard across elite firms. Starting with Cravath's November 2023 announcement, major firms including Paul Weiss, WilmerHale, Cleary, Skadden, Schulte Roth & Zabel, Debevoise, Sullivan & Cromwell, and Freshfields have all adopted similar structures. Arnold & Porter, ranked 51st on the 2025 Am Law 100, recently created an income partner role, positioning internally promoted attorneys to start as income partners before potential equity advancement. Firms cite market alignment and competitive advantages in lateral hiring as primary motivations for these structural changes.
#law-firm-partnerships #nonequity-partners #am-law-100 #legal-industry-structure #career-advancement
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