Fixed Share Partners / Salaried Partners

Salaried partners, as the name would suggest, receive a regular salary which is detailed in the partnership agreement and they do not participate in the profit and losses of the partnership. Fixed share partners are entitled to a fixed share of partnership profit. They typically receive a fixed or guaranteed element as well as a small amount of equity. Fixed share partners often have limited voting rights. Rather than jumping straight into equity this role can be an opportunity for both parties to get to know each other. Many partners request an initial fixed share option over a 12-24 month timeframe prior to moving into a full equity role.

Partner moves at this level generally remain active in the Asia Pacific region and the UK as it is quick and easy for law firms to get an offer agreed. Most of the time there is no need for the entire partnership to vote. This means decisions can be made in the region rather than going through the time delays of co-ordinating partners at HQ in the UK, US or elsewhere around the globe.