A 2012 survey by Major, Lindsey & Africa found that law firm partners' average annual compensation[where?]
[4] Many major investment banks were historically structured as partnerships, and some such as Goldman Sachs maintain a class of "partners" at the top of their corporate hierarchy.
[5] In such firms, the "partners" are typically the highest-compensated managing directors as well as more senior executives.
[citation needed] The term is also used for senior executives in the private equity industry.
In these industries, partners are often compensated millions of dollars per year.