Partner vs associate

Question

Hi,could you tell me a difference between a partner and an associate in a law firm. Do they mean the same?Thank you

Tidus · Accepted Answer

A partner is more senior to an associate. An associate is the grade below partner and basically an employee who is on the career path to becoming a partner at some point.  There are different kinds of partner too.  A salaried partner is a senior member of the firm.  An equity partner owns a share in the firm.

Magda · Answer

Thanks, Tidus. You are helping me a lot with legal English

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I thought that all partners are salaried partners

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Best regards,
Magda

Tidus · Answer

MagdaThanks, Tidus. You are helping me a lot with legal English .
I thought that all partners are salaried partners .

Best regards,
Magda

You're welcome Magda. Happy to be of help!

In small firms, the idea is that the partners share any profits in an agreed percentage without being paid a salary as such, but if, say, one of the partners is using a particular skill for the benefit of the business that is over and above what is required of him as a partner, then that partner may also have a salary in payment of that, as well as a profit share. Any money taken throughout the year by a partner who is not a salaried partner, is known as 'drawings' - I can explain that more fully to you if you need me to.

In bigger firms, the firm itself will be owned by equity partners (also known as senior partners depending on how they want to be known within the firm), whilst the others will be salaried partners.

CalifJim · Answer

In the U.S. during the last five years or so, the word associate has become a synonym for employee in some companies.

There will be a meeting on Monday which all associates are expected to attend.

CJ

Marius Hancu · Answer

CalifJimIn the U.S. during the last five years or so, the word associate has become a synonym for employee in some companies.

There will be a meeting on Monday which all associates are expected to attend.

Yes, more fancy names ...

Philip · Answer

CalifJimIn the U.S. during the last five years or so, the word associate has become a synonym for employee in some companies.

There will be a meeting on Monday which all associates are expected to attend.

CJ

I first saw it more recently than that. I like it, though.

Magda · Answer

Thank You, Tidus. I did very well in my English class today <img class='emoticon' style='Width:19px;Height:19px;' data-delaysrc='https://uat-englishforward-forums-backend.s3.us-west-2.amazonaws.com/Emoticons/1.gif' src='https://uat-englishforward-forums-backend.s3.us-west-2.amazonaws.com/Emoticons/1.gif' alt='Emotion: smile'/> .

Magda · Answer

Thank you all! I do appreciate your help

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Best regards,
Magda

Anonymous · Answer

Partner vs associate

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