While most law firms in the Am Law 100 have created and expanded a nonequity partnership tier, several law firms in the Second Hundred are retaining the single-tier model, as least for now. A range of firms such as FisherBroyles, Cleveland-based Tucker Ellis, New Orleans-based Phelps Dunbar and Los Angeles-based Irell & Manella all have one partnership tier.
These Second Hundred firms stand out, particularly because regional and smaller firms often operate on a dual-tier partnership system, in part to attract top talent from larger firms, recruiters say. Recruiting and retaining partners with books of business is key, and many Second Hundred firms have formed nonequity partnerships to support that.
