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So here it goes. Lawyers in 10 years do not make them partners at the end of the decade if they are not ready for it. The promotions from associate to senior associate and so on are performance-based at times. Dont know if this happens on every firm.
Second those principal associates/managing associates/counsel/partner designate are not made partners until and unless they are capable of it. Mostly firms train these new soon-going-to-be-partners.
Some are made to resign because they are not able to generate revenue for the firm. [Recent Dentons to Burgeon Law]
Some leave to join small firms to have a more relaxed work-life balance.
Others leave to start their own practice.
In addition, if you make the right moves, you could also end up making money comparable to an average partner.