Quote:
Originally Posted by Unregistered
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.
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But the context of the discussion above related to white shoe firms, not the mid tier US firms. The discussion was about firms which pay on the cravath scale.
Cravath partners will never take only 500k-1m, since cravath associates already pull USD440k per annum.
The above isn’t really relevant to me though. I’m lucky enough to be in a white shoe form which pays cravath, but I’m also ultimately a yellow-skinned asian who will never make partner in my current firm. I’m exiting the ladder at year 8 like the rest, and partnership isn’t my end game. Just thought I’d share what I know.