Although there are seven promotions taking place in each group, the seven partners represent just 3.7 per cent of today's total of 190 partners. At this rate, the firm's partners would take 27 years to replace themselves with new blood.
Small number of highly-regarded lawyers
The seven people being promoted to counsel status represent 16 per cent of the existing total of 44 counsel within the international firm. It would take just over six years to replace this group with new blood. The firm pays counsel partly by salary and partly by bonus. Some counsel go on to be partners. The firm says: 'We offer the position of counsel on a selective basis to a small number of highly-regarded lawyers.' Source: Cleary Gottlieb
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