Meet the US firm expanding in London with partner pay Big Law can't match

Pierson Ferdinand has only been around since January 2024, but the founders of the fast-growing US firm say they’re already building "the elite law firm of the future" - one built on no offices, no associates and a compensation model they claim lets partners earn multiples of what they make at traditional firms.

"We launched as the largest law firm debut in US history with about 130 partners," co-founder Michael Pierson tells us on The Non-Billable Podcast. "Since that time we’ve doubled the head count to over 270 partners globally," with the firm crossing the "nine-figure threshold in only our first 18 months." The firm also launched in London last year.

Partners only, no offices

The model is very simple on paper: a fully distributed, fully remote, partner-only law firm that uses AI to replace "almost all of the junior level work." Partners sign a partnership agreement, operate under a formula-based system, and can see their pay - and everyone else’s - updated "every two hours" in an internal app.

"Historically, lawyers who come to us earn two to three times what they were earning in another large law firm," Pierson says. Co-founder Joel Ferdinand is even blunter when asked how partner pay compares to Kirkland and Paul Weiss in London: "More. Substantially more."

The economics are built on doing away with costly office space, reducing overhead and sharing work across the partnership. "Disavow yourself of the idea that we don't have associates. It’s true, but we actually work together," Ferdinand says. Nearly half of the firm’s nine-figure revenue comes from internal work-sharing. "Every month, I have over 85 people helping me on my matters."

Technology - particularly AI - underpins the model. Pierson calls the firm "AI native," with a firmwide Harvey AI licence and a tech stack each partner can tailor. AI is already embedded in workflows for due diligence, drafting, deal matrices and more. "It’s a great first draft, a great way of organising information," Pierson says. "We’re really just getting started."

London ambition

London is an important part of the plan. The firm now has more than 20 fee-earners across disputes, corporate, securitisation and employment. The pitch to laterals is identical to the US: independence, transparency and potentially huge financial upside. "If you want to earn more of the collected billable hour there really is no better opportunity," Pierson says.

When asked if there's a catch, Pierson admits the model isn't for everyone.

"Lawyers are not always entrepreneurial," Pierson says. "The people who are most successful here are people who have been trained at the highest level, who are extraordinarily entrepreneurial, who want to take a bet on themselves, and who are really hungry to take their practice to the next level."

Both founders say momentum is only accelerating. "Happy lawyers make better lawyers," Ferdinand says. "We don’t believe it’s going to stop."

Listen to the full conversation on The Non-Billable Podcast.