Biglaw
firms
with
single
partnership
tiers
are
now
few
and
far
between,
with
more
big-name
firms
showing
that
they’re
ready,
willing,
and
able
to
welcome
nonequity
partners
to
their
ranks.
Cravath
was
one
of
the
first
longtime
holdouts
to
cut
bait
and
create
a “salaried
partner
tier” (i.e.,
nonequity
partners)
back
in
November
2023.
That
move
gave
other
highly
ranked
firms
permission
to
tread
the
same
path,
including
Paul
Weiss,
which
announced
its new
two-tier
partnership
plan in
March
2024;
WilmerHale,
which added
a
nonequity
partnership
tier in
August
2024;
Cleary,
which
announced
its
own new
partnership
platform in
October
2024;
Skadden,
which
began
considering
a nonequity
level in
February
2025;
and
Schulte
Roth
&
Zabel,
which
announced
an income
partnership
tier in
March
2025
(prior
to
its
merger
with
McDermott);
and
Debevoise,
which
created
its nonequity
partnership
track in
June
2025.
Now,
we’re
seeing
reports
that
Sullivan
&
Cromwell,
the
#25
firm
in
the
country
by
gross
revenue,
has
not
only
decided
to
develop
its
own
nonequity
partner
tier,
but
at
the
same
time,
the
firm
has
rolled
out
a
new
bonus
program,
all
in
the
hope
of
improving
retention
and
offering
more
partnership
opportunities
for
attorneys.
The American
Lawyer has
the
scoop:
The
firm
has
a
new
“income
partner”
position,
also
known
as
a
nonequity
partner
tier.
Lawyers
in
these
positions
will
“work
alongside
our
equity
partners,
who
will
continue
to
own
and
govern
the
firm”
and
“create
a
new
pathway
to
partnership
for
more
of
our
lawyers,”
according
to
the
memo.Sources
familiar
with
the
matter
said
S&C
doesn’t
have
a
specific
target
number
for
how
many
nonequity
partners
it
will
make,
but
the
firm
will
have
a
“strict
standard”
for
the
process.
The
sources
said
the
expectation
is
that
those
who
become
income
partners
will
be
groomed
for
equity
partnership
and
the
firm
will
continue
to
promote
some
associates
directly
into
the
equity
partnership.
As
far
as
S&C’s
new
“discretionary
enhanced
associate
bonus”
program
is
concerned,
only
third-year
associates
and
above
who
are
in
the
top
10%
of
their
practice
group
by
hours
will
be
eligible
to
receive
them
these
extra
funds,
in
addition
to
the
firm’s
regular
bonus
program.
The
new
bonus
is
performance-based,
including
hourly
billing
(as
well
as
pro
bono
work),
plus
attorneys’
other
“contributions”
to
the
firm.
The
firm’s
memo
notes
that
these
bonuses
will
reward
“those
who
consistently
surpass
[traditional
expectations].”
Last,
but
certainly
not
least,
SullCrom
is
now
pledging
to
pay
associates
$50,000
bonuses
through
its
new
“lawyer
referral
bonus
program”
for
those
who
“successfully
refer
an
associate
or
counsel.”
Half
of
the
money
will
be
paid
when
the
referred
lawyer
starts,
with
the
rest
set
to
hit
accounts
after
the
referral
completes
one
year
at
the
firm.
Sullivan
&
Cromwell
is
certainly
doing
a
lot
in
its
efforts
to
improve
attorney
retention,
recruitment,
and
satisfaction
—
but
will
it
work?
Stay
tuned.
In
the
meantime,
best
of
luck
to
the
firm
as
it
moves
ahead
with
its
income
partnership
program,
and
congratulations
to
the
select
associates
at
the
firm
who
will
be
receiving
enhanced
discretionary
bonuses.
Is
your
firm
planning
to
increase
its
nonequity
partnership
ranks?
Please
please
text
us
(646-820-8477)
or email
us and
let
us
know.
Thanks.
Sullivan
&
Cromwell
Creates
Income
Partner
Track,
Bonus
Plan
and
Referral
Program
[American
Lawyer]
Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
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