<p>Hi everyone! So, I've read that you have work at least 7-10 years in a law firm to be asked to become a partner(if they do). I have 2 questions.</p>
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<li>Is this timeline for a junior partnership?If so,how long does it take to make senior partner?</li>
<li>If they don't ask you to become a partner and after waiting for 8 years I start working in another firm, do i have to work for another 8 years there to be offered a partnership? (I know this one is a silly question but I have little knowledge about this so excuse me please :)</li>
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<p>I will let sallyawp, Hanna, and others give you better answers, but here’s the best one for you: the chances of a law school enrollee eventually making partner at a big firm are roughly equal to those of a varsity high school athlete making the pros. </p>
<p>(About 16% of law school grads start at BigLaw, and about one in twenty make partner, IIRC. Those numbers may not be perfect, but will give you a rough idea.)</p>
<p>I think you are talking about equity partner (i.e., you share in the profits of the firm) and non-equity partner (i.e., you are a salaried partner—partner in title, but don’t share in the profits of the firm). The big bucks are usually made by equity partners. Most larger firms (>100 or so) are going to have 2 partnership tiers. If you are selected (after 7-10 years as an associate), you spend some period of time as a non-equity partner and then potentially (or not) move up to an equity partner position----usually only if you have a significant book of your own business and provide work to other lawyers or if you have a very particular expertise.</p>
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<li><p>Whether firms have junior partnerships, place people into Of Counsel positions, have only equity partnerships, or some other structure varies widely by firm. The 10 years as an associate is the (very rough) timeline for not being an associate anymore, assuming you make it that long. That could mean entrance into partnership (or whatever) but it could just as easily (and more likely) mean you get kicked out of the firm.</p></li>
<li><p>After that long in a firm you will have to negotiate with the next place you move to. If it’s another firm, they could take you on as a partner or could make you sit as a senior associate or of counsel. There aren’t any firm (get it) rules at this point outside very strict firms like Cravath.</p></li>
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<p>@aries: I think that number is closer to 12% these days, and lets not forget there’s also a smaller number of people in law school total which masks further decline.</p>