At JDJournal, we’re excited to unveil a deep-dive compensation overview for law firm partners—comparing the financial landscapes of small and midsize practices. Based on the latest BCG Attorney Search analysis, this timely report offers attorneys critical data to guide career considerations and strategic moves.
Learn more from this report: Midsize vs Small Law Firm Partner Compensation: Complete Firm Size Analysis 2024
Compensation at a Glance
Midsize Law Firms (50–200 Attorneys)
- Equity Partners: Median pay at around $633,000 per year, with ranges from $300K to $1.5M depending on region, practice area, and originations. Top performers can earn well above $1M, while entry-level partners typically start between $400K–$500K.
- Non-Equity Partners: Median pay near $275,000, with most earning between $200K–$450K, and high earners topping $400K.
These firms strike a compelling balance: offering both meaningful leadership opportunities and robust compensation—without the rigidity of BigLaw’s structure.
Small & Boutique Firms (Fewer than 50 Attorneys)
- Partner compensation typically ranges from $500K to $2M, particularly in niche practices like IP, tax, white-collar defense, and complex litigation.
- Many partners gain equity or leadership roles earlier, with compensation often tied directly to individual revenue generation and firm performance.
Partners in major metropolitan hubs benefit from higher billing rates and compensation, underlining the importance of location as a compensation driver.
Why This Matters for Your Career
- Midsize firms offer significant upside—median compensation strong enough for stability, and equity tracks that reward high performance. Ideal for attorneys seeking growth without sacrificing autonomy.
- Small firms can deliver exceptional financial returns, especially for specialists or entrepreneurial partners who directly drive business growth.
- Geographical strategy is powerful. If compensation is a top priority, consider markets that historically deliver premium earnings.
JDJournal’s Call to Action
Ready to elevate your legal career strategy? Whether you’re contemplating a lateral move, leadership opportunity, or partnership offer, this compensation breakdown gives you the context to make informed decisions. Gear your next move toward roles where your skills, ambition, and location align for maximum reward.
Learn more from this report: Midsize vs Small Law Firm Partner Compensation: Complete Firm Size Analysis 2024
