Employment law partners typically need $1-3M in portable business for lateral moves, though demand varies by market and specialty. PAGA expertise and wage-hour class action experience can reduce these thresholds significantly.
Non-equity partner compensation disputes often signal deeper firm culture issues that rarely improve. A lateral move to a growing market like Charlotte can provide both financial upside and career reset opportunities.
Hogan Lovells non-equity partners typically earn approximately $400K-$800K annually, varying by office, practice area, and performance. The firm's international platform and strong market position generally support competitive compensation packages.
Labor and employment partners typically need $1-3M in portable business for lateral moves, though requirements vary significantly by market and firm tier. Strong client relationships and specialized expertise can sometimes offset lower book numbers.
Law firm partners typically split profits through compensation systems based on originations, billable hours, and firm contributions. Most firms use either lockstep, eat-what-you-kill, or hybrid models that balance individual performance with collaborative firm building.
Law firm partnership offers significant financial rewards through equity participation and profit sharing, plus professional autonomy, business development opportunities, and long-term wealth building potential. However, partners also assume substantial business risks and client responsibility.
Equity partnership means owning a stake in the firm with voting rights and profit-sharing, while non-equity partners receive salary/bonus without ownership. Equity partners typically earn significantly more but face greater financial risk and responsibility.
The Charlotte move likely makes financial sense when adjusted for cost of living, with senior associates earning $280K-$320K versus NYC's $435K+ but gaining 40%+ lower expenses. Partnership timelines are often faster in Charlotte's growing market.
Wyoming's employment law market is limited but stable, driven primarily by energy sector needs and general business litigation. Most sophisticated work flows to larger Colorado or Utah firms, making it better suited for attorneys seeking smaller practice environments.
Partner billable hours vary significantly by firm type and market, with Am Law 100 partners typically billing 2,000-2,400 hours annually. However, partners focus more on business development and client management than pure hour generation.
Evaluating an Am Law 100 lateral offer requires analyzing compensation against current Cravath scale benchmarks, assessing the firm's practice strength and culture, and weighing long-term career trajectory benefits against lifestyle trade-offs.
Moving from BigLaw to a quality employment boutique can be an excellent career move, especially given the robust demand for employment law expertise. While you'll likely take a short-term pay cut, the specialized experience and better work-life balance often lead to stronger long-term prospects.
Non-equity partners receive fixed compensation and limited firm governance, while equity partners share in firm profits and have ownership stakes. The choice depends on your book of business, risk tolerance, and long-term career goals.
Securities litigation offers strong compensation and steady demand, particularly at elite firms and boutiques. The practice combines complex financial analysis with high-stakes litigation, making it an attractive specialty for experienced commercial litigators.
Before accepting a lateral partner opportunity, thoroughly investigate the partnership track timeline, portable book requirements, compensation structure, and firm culture. Focus on understanding both the written policies and unwritten expectations that will determine your success.