Perspective
Oct. 6, 2012
Rolling capital contributions and the Ginsu knife: Part Two
It shouldn't come as a shock that law firms active in the lateral hiring market want to distinguish themselves from Dewey. By Ed Reeser
Recruiters are standing by to take your call.
What happens when the firm comes in 12 to 14 percent below targeted compensation for the equity partners? Does the firm "discount" the amount of equity required? Do they give every partner a return of capital? That is doubtful. So now our hypothetical partner with the $100k raise winds up collecting $688k and not $800k. But the partner had to put up $42k ($84k pretax), so the take ...
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