Biglaw corporations with single partnership tiers at the moment are few and much between, with extra big-name corporations displaying that they’re prepared, keen, and capable of welcome nonequity companions to their ranks. One prime Biglaw agency, nevertheless, has determined to remain true to its single-tier partnership mannequin — a minimum of in the interim.
Earlier this summer season, we reported that Ropes & Grey, the #7 agency within the nation by gross income, had been flirting with making a nonequity partnership tier. This was within the wake of different storied corporations welcoming nonequity companions to their ranks in recent times, beginning in November 2023 when Cravath created a “salaried companion tier.” That transfer gave different extremely ranked corporations permission to tread the identical path, together with Paul Weiss, which introduced its new two-tier partnership plan in March 2024; WilmerHale, which added a nonequity partnership tier in August 2024; Cleary, which introduced its personal new partnership platform in October 2024; Skadden, which started contemplating a nonequity stage in February 2025; and Schulte Roth & Zabel, which introduced an revenue partnership tier in March 2025.
Ropes now appears to have settled on its single partnership tier. In an interview with the American Lawyer, companion Dan Stanco, a member of the agency’s coverage committee, stated it could be “untimely” to say the agency will likely be incorporating a nonequity partnership tier. So, for now, the agency will retain its fairness partnership scheme, however who’s to say what the long run holds.
Ropes — which introduced in $4,989,000 in revenue per fairness companion in 2024 — is among the final corporations within the Am Legislation 100, to retain an all-equity partnership. As beforehand famous by Bloomberg Legislation, the most important regulation corporations in America might quickly have extra nonequity companions than fairness companions by the top of 2025.
Is your agency planning to extend its nonequity partnership ranks? Please please textual content us (646-820-8477) or electronic mail us and tell us. Thanks.
Ropes & Grey Sticking to Single-Tier Partnership For Now, Aiming For Higher Collaboration [American Lawyer]
Earlier: High 10 Biglaw Agency Is Contemplating Creating A Nonequity Partnership Tier
Staci Zaretsky is the managing editor of Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to electronic mail her with any ideas, questions, feedback, or critiques. You’ll be able to observe her on Bluesky, X/Twitter, and Threads, or join together with her on LinkedIn.
