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Nowadays everyone is made partner as a retention strategy in tier-1 firms, and so tier-1 "partner" tags are of lesser value. The pressures of bringing in business are virtually non-existent, and all one does is execute like an SA/PA day in and day out, with many other partners in the mix. I have seen so many deal reports in the past few years that list 4 partners and 1 or 2 associates, which exemplifies this aptly.
Tier-2 isn't competing to retain resources like tier-1, and in many instances don't promote even the most deserving lawyers for the longest time, even at the risk of attrition, and so if you are dealing with a "partner" at a tier-2, you most likely are dealing with the real deal.
Partnership is overrated.
On the contrary, there are a few of my colleagues who are originally from the tier 1 city and some also come from very well off families. They don’t have to struggle as much to settle down in this city. They already have something what I achieved post many years of struggle. They may or may not opt for partnership because they don’t see the value since it won’t change their current lifestyle much. They are also good lawyers. I understand their perspective.
There are a few colleagues who are very well off and want to become or have already become partners because that’s what they want. There are also some people like me who don’t come from money but want peace and chose to be content and to go in house. This is also fine I feel.
Everyone’s background and back story is different and one must not judge anyone for their respective choices. Partnership is good but may not be deemed necessary by some. To each their own.
Do what you need to do on the basis of your own family and circumstances and personal preferences. Dont follow the herd. Give it your best shot in whatever you choose to do.