By Jeff Liebster ( March 27, 2018, 3:45 PM EDT) -- Recently, I spoke to a relatively young nonequity partner looking to make a career move. Despite everything that he could have listed as must-haves in a new firm, he would only consider moving to a firm that would admit him as an equity partner. To him — and many others — becoming equity partner shows a firm's long-term commitment to him, with the attendant job security and voice in important matters within the firm. While I understood his concern, in reality, the industry has changed and being an equity partner is not what it used to be. In fact, it may not be better to enter a new firm as an equity partner....