Quote:
Originally Posted by LegalBeagle
Conversely, US firm equity partners earn a lockstep scale which begins at USD2 mil.
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This is very misleading.
Only the top few US law firms (e.g. Wachtell, Cravath) are on lockstep at that scale. Most other US firms pay according to an eat-what-you-kill basis where compensation is tied directly to origination. New partners at such firms are unlikely to get anywhere close to USD2 m in their first year, more like 500k-1m.
Nevertheless, a US partner will often outearn an SG partner at the same level of seniority.