What are the different types of Partner in law firms?

[nann]

More specifically, what's the difference between a senior partner, and a managing partner. To my knowledge, a managing partner has more seniority than a senior partner... but I don't know if I'm right. If anyone could tell me the "hierarchy" of corporate law firms, that would be great. :)

[winwood]

A managing partner has management responsibilities for actually running the firm. He is not necessarily senior to senior partners - very often a firms most senior partners have no interest in getting involved in the day to day operations. A managing partner often gets a salary in addition to his income as a partner to compensate him for the time he spends on admin and management duties and not practicing law.

Richard

[chiram97]

The basic hierarchy of a law firm from top down is as follows:

Managing Partner: Generally a senior partner who is responsible for the management and operation of the firm. This position is equivalent to a CEO of a corporation.

Senior Partner: A partner that has a full stake in the firm.

Junior Partner: A partner that has a limited stake in the firm.

Associate: A lawyer that is hired by the partners. If an associate stays employed with a firm long enough, the associate may become a junior partner.