Average Compensation—All Partners rose by 10% in 2020, compared with an increase of 4% in 2019. Ninety-one firms posted increases, compared with 81 the previous year. Forty-eight firms posted double-digit gains, while one posted double-digit losses.

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Compensation—all partners is based on the total payout to a firm’s entire partnership, regardless of equity status. Because it takes both equity and nonequity partners into account, we consider it to be a more complete assessment than profits per partner, which is based only on distributions to equity partners.

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