Biglaw firms with single partnership tiers are now few and far between, with more big-name firms showing that they’re ready, willing, and able to welcome nonequity partners to their ranks.
Cravath was one of the first longtime holdouts to cut bait and create a “salaried partner tier” (i.e., nonequity partners) back in November 2023. That move gave other highly ranked firms permission to tread the same path, including Paul Weiss, which announced its new two-tier partnership plan in March 2024; WilmerHale, which added a nonequity partnership tier in August 2024; Cleary, which announced its own new partnership platform in October 2024; Skadden, which began considering a nonequity level in February 2025; and Schulte Roth & Zabel, which announced an income partnership tier in March 2025.
Now, we’re seeing reports that Ropes & Gray, the #7 firm in the country by gross revenue, may be in the running to create its own nonequity partner tier. The American Lawyer has the scoop:
Two sources close to the matter said the firm, which is one of the few Am Law 100 firms to still maintain an all-equity partnership, is considering the shift against a tide of similar moves by rivals. …
In a statement to Law.com, a Ropes spokesperson said: “As a partnership, we regularly review all aspects of our business to ensure we are best meeting our client needs and talent goals. All our decision making, including on our partnership structure, will continue to be informed by these core principles.”
Ropes — which brought in $4,989,000 in profit per equity partner in 2024 — is one of the last firms in the Am Law 100, to retain an all-equity partnership. As previously noted by Bloomberg Law, the largest law firms in America could soon have more nonequity partners than equity partners by the end of 2025.
Best of luck to the firm in its decision-making process on this important issue.
Is your firm planning to increase its nonequity partnership ranks? Please please text us (646-820-8477) or email us and let us know. Thanks.
Ropes & Gray Considers a Nonequity Partner Tier [American Lawyer]
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
