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Why BigLaw's Partnerships Are Shrinking

By Aebra Coe (April 17, 2018, 12:01 AM EDT) -- Following in the footsteps of many of their Wall Street peers, more large law firms have whittled down their percentage of partners in each of the past five years, a trend some attribute to heightened competition and sluggish demand.

The overall proportion of partners at the largest law firms in the U.S. dropped from 42.2 percent of domestic headcount at the end of 2013 to 40.8 percent at the end of 2017, according to Law360 data, which shows a steady, albeit incremental, decline.

That means an average law firm with 800 attorneys and 338 partners in 2013 would have closer to...

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