Why two-tier partnership structures are the right solution

Description

Abstract: With many law firms’ high-performance expectations, demanding workload and long hours, some of today’s lawyers are “opting out,” searching for a better work/life balance. The partnership track isn’t the lure it once was. But firms may be turning away profitable legal talent if they phase out associates who don’t fit the partnership track. This article highlights the benefits of a two-tier system of equity and nonequity partners.