BCG Attorney Search has just released its much-anticipated Law Firm Partner Compensation Report (2024–2025), providing a detailed look at partner pay across firm size, geography, and practice specialization.
If you’re a partner, aspiring partner, or legal professional planning your career trajectory, this is essential reading.
Learn more from here: Law Firm Partner Compensation Report (2026): Salary Trends by Firm Size, Region, and Practice Area
Headlines You Need to Know
- Average partner compensation has surged, now hovering around $1.4 million in 2025 — marking a 26% rise since 2022.
- Equity partners continue to command a significant premium, with median compensation near $1.9 million, while non-equity partners average about $558,000.
- Among U.S. AmLaw 100 firms, profits per equity partner (PPEP) are averaging approximately $3 million.
- Leading U.S. firms are hitting exceptional figures—Kirkland & Ellis reports a PPEP of $9.25 million, with several other firms (e.g. Wachtell Lipton, Quinn Emanuel) ranging between $7M–$9M.
Breakdown by Firm Size & Practice Area
Firm Size
- Large, AmLaw-tier firms offer the highest partner pay, often measured in the multi-million dollar range, thanks to deep client bases, high bill rates, and significant leverage.
- Mid-size and regional firms offer more moderate compensation, with steeper variation depending on client portfolios and local market strength.
- Boutique or niche practices may yield lower averages but offer upside for partners with strong client development and specialization.
Practice Area
- Corporate/M&A remains the top-paying field, followed closely by Tax & ERISA, Litigation, IP, Energy, and Healthcare.
- Labor & Employment and generalist practices tend to fall lower on the pay scale, though top performers in those areas can still exceed market averages.
- Highly specialized sectors continue to command significant premiums, reflecting high client demand and complex legal work.
Regional & Global Compensation Dynamics
- Geography explains large pay gaps: U.S. markets, especially New York, California, and Washington, D.C., remain compensation powerhouses.
- The London and U.K. market has also seen rising benchmarks. For instance, Macfarlanes now reportedly pays full-equity partners around £3.1 million, surpassing some Magic Circle peers.
- The surge in global lateral partner movement, particularly into London and Europe, reflects how compensation expectations drive cross-border competition.
⚙️ Shifting Models & Firm Culture
- Many firms are retracting from strict lockstep compensation and embracing merit-based systems tied to origination, revenue contribution, and individual performance.
- In hyper-profitable practices, top partners can see compensation exceeding $20 million in a single year at elite firms—a testament to competition for origination credit and client ownership.
- Still, leaders caution that overemphasis on pay can erode firm culture. Maintaining collegiality, trust, and long-term loyalty is increasingly viewed as critical.
💡 Strategic Takeaways for Partners & Firms
- Benchmark smartly – Don’t just compare to your region; compare by firm size and practice specialty.
- Equity tiers matter – The split between equity vs. non-equity partner compensation remains vast and strategic.
- Performance amplification – Originations, team leadership, and cross-selling matter more than ever.
- Culture counts – High pay may attract top talent, but retaining it demands meaningful purpose, autonomy, and respect.
Learn more from here: Law Firm Partner Compensation Report (2026): Salary Trends by Firm Size, Region, and Practice Area