Ropes & Gray Sticking to Single-Tier Partnership For Now, Aiming For Better Collaboration
In an era where Big Law firms are rapidly adopting two-tier partnership models to manage costs and talent, Ropes & Gray remains a steadfast holdout, recommitting to its all-equity, single-tier structure to foster deeper collaboration and equity among partners. This decision, detailed in a September 8, 2025, Law.com report, underscores the firm’s belief that unity drives superior client service, even as it quietly explores a nonequity tier amid industry pressures. With $4.989 million in profits per equity partner in 2024 and a No. 2 ranking on The American Lawyer’s A-List, Ropes & Gray’s approach is yielding results, but the “for now” qualifier hints at potential evolution.
Embracing Unity: The Single-Tier Philosophy
Ropes & Gray’s single-tier partnership eschews origination credits and nonequity levels, ensuring all partners share equally in profits and decision-making. This model promotes a collaborative environment where attorneys focus on collective success rather than individual rainmaking, a strategy praised for enhancing client outcomes in complex, cross-practice matters. Michael Littenberg, the firm’s global ESG head, told IFLR in August 2024 that the structure “promotes cooperation,” allowing seamless teamwork across its 1,500 attorneys in 12 offices worldwide.
Litigation partner Laura Hoey echoed this in an October 2024 American Lawyer interview, highlighting its transparency for diverse candidates: “It’s more clear-cut… After entering a nonequity partnership, it’s very difficult to get that momentum again to make that sprint to [equity] partner.” Managing partner David Djaha reinforced this ethos in announcing 20 new partners in 2024, stating they exemplify “excellence, teamwork and collaboration.” Recent promotions, including 12 in November 2024, span private capital, healthcare, and tech, bolstering the firm’s global reach without hierarchical divides.
Industry Pressures: The Two-Tier Temptation
While Ropes & Gray holds firm, the legal sector is shifting dramatically. Bloomberg Law forecasts that by late 2025, nonequity partners could outnumber equity ones in top U.S. firms, enabling cost control and lateral hires without profit dilution. Pioneers like Cravath (2023) paved the way, followed by Paul Weiss (March 2024), WilmerHale (August 2024), Cleary (October 2024), Skadden (February 2025), and Schulte Roth & Zabel (March 2025).
Ropes & Gray, ranked No. 7 by gross revenue, has been mulling a nonequity tier since June 2025 reports from Above the Law and Law.com. A spokesperson noted, “We regularly review our partnership structure to best meet client needs and talent goals,” but emphasized no immediate changes. This deliberation stems from talent wars and rising costs, including AI integration and hybrid work, in a market where Am Law 100 firms face 6.7% compensation hikes.
Success Stories: Collaboration in Action
The single-tier model powers Ropes & Gray’s dealmaking prowess. In August 2025, it advised Capital Group on an exclusive KKR partnership for public-private investments, including the Capital Group KKR U.S. Equity+ interval fund. Other highlights include guiding GI Partners on a Flexential continuation vehicle, Partners Group in a restor3d stake, and Baillie Gifford in Rippling’s $450 million Series G. In life sciences, the firm handled Pfizer’s $11.6 billion Biohaven acquisition and Eli Lilly’s $2.5 billion Scorpion deal, facilitating over $55 billion in transactions.
A September 2025 hire of a private equity partner from Latham & Watkins in London further strengthens its global private equity practice. These wins, coupled with No. 2 A-List status, validate the model’s effectiveness in high-stakes sectors like tech and healthcare.
Expert Opinions and Market Buzz
Analysts commend Ropes & Gray’s resolve. A Major, Lindsey & Africa recruiter told Law.com it’s a “bet on long-term culture over short-term gains.” On X, @BigLawWatch posted, “Ropes’ single-tier keeps them collaborative—key in M&A chaos.” Critics like @TalentScoutLegal warn, “Without a nonequity tier, they risk losing rainmakers to tiered rivals.”
The firm’s ESG and AI focus thrives under this unity, as seen in its H1 2025 AI Global Report and secondaries market insights with HarbourVest.
Implications for U.S. Clients and the Legal Sector
For U.S. clients, the single-tier ensures integrated, efficient service in a $400 billion market where billing rates average $1,200/hour. This model supports seamless advice on deals like the $1.9 billion Sanofi-Dren Bio acquisition, reducing silos and costs. Economically, it sustains high profits without rapid dilution, benefiting the broader economy through stable legal infrastructure.
Socially, the structure advances diversity, aligning with 60% of clients demanding inclusive teams per a 2025 Bloomberg survey. Politically, amid antitrust and ESG scrutiny, Ropes & Gray’s collaborative edge positions it for regulatory navigation as 2026 midterms loom.
The Horizon: Steady Course with Eyes on Change
Ropes & Gray’s “for now” commitment to single-tier partnership is a deliberate choice for collaboration, but ongoing reviews suggest adaptability. With innovations like advising on Akur8’s $120 million Series C and its AI report, the firm is evolving without revolution. As Big Law tiers proliferate, Ropes & Gray’s model could inspire a backlash—or quietly adopt elements to stay ahead. For clients and talent, it reaffirms a firm where partnership means true equity.