Ed.
note:
Welcome
to
our
daily
feature,
Quote
of
the
Day.
As
has
always
been
the
case
at
Paul
Weiss,
the
path
to
equity
partnership
remains
eight
years.
In
some
cases,
seven
years.
Creating
a
nonequity
tier
has
not
affected
the
path
to
equity
partner.
While
the
vast
majority
of
elite
law
firms
have
seen
their
number
of
equity
partners
decrease
(or
remain
flat)
over
the
past
decade,
we
have
increased
our
number
of
equity
partners
by
nearly
50%
over
the
past
decade,
from
143
to
212.
I
expect
that
we’ll
make
at
least
as
many
equity
partners
this
year
as
we
have
in
recent
years.
—
Brad
Karp,
chairman
of
Paul
Weiss,
in
comments
given
to
the
American
Lawyer,
on
why
the
introduction
of
a
nonequity
partner
tier
at
the
firm
won’t
impact
the
minting
of
new
equity
partners
at
the
firm.
This
past
summer,
Karp
explained
that
for
associates
“who
fall
just
short
of
what
we
believe
is
required
to
become
an
equity
partner,
we
will
confer
a
nonequity
partner
title
…
and
we’ll
track
them
for
a
few
years
and
see
whether
they
develop
into
equity
partner
talent.”
Staci
Zaretsky is
a
senior
editor
at
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to
email
her
with
any
tips,
questions,
comments,
or
critiques.
You
can
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on
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and
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or
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with
her
on
LinkedIn.