The partnership model and ABA guidelines prohibit non-lawyers from proudly owning equity in law practices, so there is no possibility for non-lawyers to join and grow practices since law firms can solely offer them salaries and not equity positions. This is totally different than other countries, like Australia, where law companies are listed on the general public exchanges.
If lawyers took larger dangers with their careers I assume they’d see extra earnings although most are danger averse because it’s probably the most useful mindset in a career that offers in danger allocation. Lifestyle inflation is a significant cultural problem with lawyers, and it could possibly begin in law college before you even have a lot of an income. It is particularly troubling in larger cities like Seattle, the place I follow. For a long stretch of time (together with while I was in law college) the faculties were graduating extra … Read More