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43% of partners took a pay cut because of COVID-19, new survey finds
Image from Shutterstock.com. Forty-three percent of partners reported taking a pay cut directly related to COVID-19, according to Law360’s inaugural Law Firm Partner Compensation Survey: Partnership and Pay in an Unprecedented Year, released Wednesday. Of those partners who saw their pay reduced because of the pandemic, nearly half said their salary was slashed by 20% or more, the survey found. The median pay decrease due to the pandemic was 15%. Law360 has more on the survey here. Additionally, 34% of partners said their firms de-equitized partners in 2020, while 38% disclosed that their firms had asked partners to retire. ....