Reevaluating Partner Promotion Trends: A Closer Look at Leopard Solutions’ 2024 Data

Reevaluating Partner Promotion Trends: A Closer Look at Leopard Solutions’ 2024 Data

An article by Craig Savitzky from Leopard Solutions highlights Leopard Solutions’ proprietary data, combined with insights from their 2023 State of the Legal Industry Report, to provide a nuanced view of partner promotions in Am Law 100 firms, contrasting with the narrative of shrinking promotion classes. 

While the data shows a modest 2% decline in overall partner promotions for 2024, a broader perspective reveals that several firms have seen increases in promotions, such as Husch Blackwell, which elevated 30 attorneys to partner, a 67% increase from the previous year.

Leopard’s dataset, which includes 30 firms, captures a fuller picture by incorporating counsel-to-partner transitions, which some firms omit. This comprehensive tracking helps explain discrepancies in reported promotion numbers. For example, Leopard identified 55 promotions for White & Case, whereas other reports listed only 37, as they did not account for promotions announced later or those in smaller cohorts.

Leopard’s analysis also highlights trends in leverage ratios. Firms with higher leverage, like Kirkland & Ellis, maintain consistent promotion strategies, while lower-leverage firms, such as Husch Blackwell, increase promotions to address capacity gaps. Additionally, the extended path to partnership noted in Leopard’s 2023 State of the Legal Industry Report suggests that the promotion timeline is lengthening, influencing retention and talent decisions.

Leopard’s more comprehensive approach challenges the idea of a uniform contraction in Big Law promotions and emphasizes the importance of considering all pathways to partnership and tracking updates to better understand long-term trends.