By August J. Aquila
What Makes a Great Partnership
With the recent turn in the economy, equity partners are finding that there is no longer a lifelong tenure guarantee. Senior managers and non-equity partners are wondering whether or not they even want to become equity partners.
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For the most part, firms have been selective about who they take into the partnership. However, when the economy was running hot and finding a warm body to fill spots was a real challenge, the partnership bar was certainly lowered in many firms. Today, that bar is being raised again.