Correct me if im wrong, My understanding is that junior partners dont have " equity" but are merely paid a higher salary of about 16-29 k pm. They are not considered true partners in that sense. Heard the "true" EQUITY partners are the ones who are the senior partners or Expats.

Logically, all big 4 promote so many people to partners each year and the older existing partners are still around and not retiring. It makes so sense that so many hundreds of people have EQUITY priviledge. The ones who get to " buy into the firm" are a selected few