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The joke among many Boomer law partners is that they’d never be able to make partner today, and probably wouldn’t have had the credentials to even be hired as an associate.
Over the course of Boomer careers, firm salaries and equity payouts exploded, and they’d largely avoided student loans and other debt, due to the expansion of public education and the booming economy, leaving partners at the top of a seemingly endlessly widening pyramid.
In law firms, corporations, and other legal employers, Boomers insisted on a modicum of feedback and argued for yearly standardized performance reviews to level the playing field for all employees.
With the booming economy, it was relatively easy to advance up the ranks to law firm partnership, even though hard work and substantial billable hours were still required.
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