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Biglaw Profits Per Partner (PPP) info for 2007
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Date: February 7th, 2008 1:44 PM Author: high-end windowlicker stag film Law firms are reporting financial info, so I might as well collect them into one list. Sources are in the posts below. As usual, I reserve judgment on whether any of this info is actually "useful" -- if you prefer some other metric like revenue per lawyer, wait for AmLaw or run the numbers yourself. If you have an addition, please post to this thread.
Last year's numbers are here: http://www.xoxohth.com/thread.php?thread_id=563047&mc=57&forum_id=2#7412059
Firm - PPP (percent change) / PPP including nonequity partners
Sullivan - $3.13m (+11%) Quinn - $3.01m Cadwalader - $2.72m (-6%) Paul Weiss - $2.6m (+4%) Milbank - $2.53m (+16.4%) Dechert - $2.35m (+18%) Debevoise - $2.29m (+26.5%) Skadden - $2.28m (+9%) Latham - $2.27m (+22%) Willkie - $2.23m (+10%) Cleary - $2.17m (+7%) Weil - $2.11m (+11%) Paul Hastings - $1.92m (+20%) Gibson - $1.9m (+8.5%) Irell - $1.9m Shearman - $1.847m (+11.9%) Orrick - $1.67m (+16%) White & Case - $1.67m (+11.3%) O'Melveny - $1.64m (+0%) Dewey - $1.57m (+10%) McDermott - $1.52m (+8%) Wilson Sonsini - $1.44m (+9.9%) Morgan Lewis - $1.43m (+15%) Cooley Godward - $1.4m (+42%) King & Spalding - $1.4m (+6%) Sidley - $1.38m (+5.7%) Baker Botts - $1.30m (+18.6%) Morrison & Foerster - $1.3m (+15%) Greenberg Traurig - $1.3m (+9%) Munger - $1.3m Loeb & Loeb - $1.29m (+10%) DLA Piper - $1.28m (+8.3%) Winston - $1.28m (+6.5%) Manatt - $1.25m (+14%) Mayer Brown - $1.24m Sheppard Mullin - $1.2m (+19%) Hogan - $1.19m (+18%) Baker & McKenzie - $1.06m (+22%) WilmerHale - $1.06m (+8.6%) Fenwick - $1.02m(+8%) Heller - $1.01m (-3%) Howrey - $1.01m (-17.5%) Reed Smith - $1m (+6%) Heller Ehrman - $1m (-3.5%) Pillsbury - $985k (+13%) Townsend - $740k (-48%) Dorsey - $672k (+30%) Nixon - $653k (+13%) Luce Forward - $605m (+7%) |
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Date: February 7th, 2008 3:14 PM Author: Beady-eyed Cowardly Double Fault Digit Ratio lulz @ howrey... -17.5%!!! (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9287710) |
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Date: February 8th, 2008 5:14 AM Author: adventurous umber marketing idea laser beams (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9292018) |
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Date: February 9th, 2008 12:02 PM Author: mint excitant hall milk Wow, Wilmer is overfuckingrated. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9297703) |
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Date: February 11th, 2008 10:22 AM Author: Appetizing sanctuary hominid King and Spalding: http://www.legalweek.com/Articles/1094673/Atlanta's+King++Spalding+has+steady+'07.html |
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Date: February 14th, 2008 11:05 AM Author: Appetizing sanctuary hominid Mayer Brown http://www.thelawyer.com/cgi-bin/item.cgi?id=131229&d=415&h=417&f=416 |
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Date: February 14th, 2008 11:06 AM Author: Appetizing sanctuary hominid Weil Gotshal http://www.thelawyer.com/cgi-bin/item.cgi?id=131227&d=415&h=417&f=416 |
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Date: February 25th, 2008 4:15 PM Author: razzle plaza gay wizard looks like the WSJ law blog finished the job for you: http://blogs.wsj.com/law/2008/02/24/for-law-firms-too-2008-shaping-up-to-be-tough/ |
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Date: February 26th, 2008 1:18 AM Author: high-end windowlicker stag film Nice, now I can spend more time updating my car threads. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9388284) |
Date: February 7th, 2008 1:44 PM Author: high-end windowlicker stag film CWT, WilmerHale, Morgan Lewis: http://www.legalweek.com/Articles/1093444/Cadwalader+hit+by+6+PEP+drop+as+US+firms%E2%80%99+2007+results.html (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9287120) |
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Date: February 7th, 2008 1:45 PM Author: high-end windowlicker stag film PW: http://www.thelawyer.com/cgi-bin/item.cgi?id=131097&d=415&h=417&f=416 (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9287125) |
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Date: February 7th, 2008 1:46 PM Author: high-end windowlicker stag film McDermott, Fenwick, Loeb: http://www.legalweek.com/Articles/1093706/McDermott+PEP+up+8+as+fees+approach+1bn.html (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9287146) |
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Date: February 7th, 2008 1:48 PM Author: high-end windowlicker stag film Howrey, Dorsey: http://www.legalweek.com/Articles/1093552/Howrey+hit+by+175+tumble+in+profits.html Willkie: http://www.legalweek.com/Articles/1091459/Fees+up+20+as+Willkie+Farr+unveils+'07+results.html Reed Smith: http://www.legalweek.com/Articles/1084830/Reed+Smith+hits+1m+PEP+in+post-merger+results.html |
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Date: February 7th, 2008 1:50 PM Author: mint excitant hall milk Quinn - $3 million. http://www.law.com/jsp/LawArticlePC.jsp?id=1199931032897 |
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Date: February 7th, 2008 1:51 PM Author: high-end windowlicker stag film Thanks. I think Quinn was the second non-NY firm to top $2 million (after Kirkland, and that was only a year or two ago) and now I believe they'll be the first top $3 million. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9287176) |
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Date: February 7th, 2008 2:22 PM Author: Wonderful foreskin office solid, thanks (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9287342) |
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Date: February 7th, 2008 3:18 PM Author: Cracking market bbw Reed Smith teh Hizzla of law firms. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9287736) |
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Date: February 8th, 2008 3:50 AM Author: Fantasy-prone Heaven what does that mean? (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9291761) |
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Date: February 16th, 2008 9:37 AM Author: indigo kink-friendly gaping boltzmann I'm so happy I picked Latham over Reed Smith (those are the only big firms I got offers from). Reed Smith may have more of a lifestyle firm reputation, but Latham is not a dungeon and the firm is on a much better financial footing.
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Date: February 19th, 2008 1:23 PM Author: maniacal spot athletic conference PPP isn't the best metric for determining 'better financial footing.' So feel better if you must, but until you are the partner making more at Latham than you would be at RS, you are just playing the part of the pawn. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9351771) |
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Date: February 8th, 2008 3:47 AM Author: high-end windowlicker stag film Latham: http://www.thelawyer.com/cgi-bin/item.cgi?id=131102&d=415&h=417&f=416 (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9291746) |
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Date: February 8th, 2008 3:51 AM Author: glassy bateful garrison What do they account for Howrey's dramatic drop? I thought IP was pretty safe generally. I've heard they were very strong for IP in DC. Is this now a firm to avoid if you're interested in IP? (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9291766) |
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Date: February 8th, 2008 12:58 PM Author: Galvanic Stain Tattoo howrey is a well-known toilet, sir. don't be fooled. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9292972) |
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Date: February 8th, 2008 5:20 AM Author: Anal bull headed place of business How long does it take until you're pulling this kind of money in however? I mean, consider you make partner after 8 years that puts you at 33 yrs old. Is it safe to assume you're making the average by the time you hit 40? Before? After? (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9292038) |
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Date: February 8th, 2008 12:38 PM Author: high-end windowlicker stag film http://www.xoxohth.com/thread.php?thread_id=625780&mc=8&forum_id=2 (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9292881) |
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Date: February 8th, 2008 5:44 AM Author: flushed abode depressive LOLwalader (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9292070) |
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Date: February 8th, 2008 2:25 PM Author: high-end windowlicker stag film Cleary: http://www.legalweek.com/Articles/1094451/Cleary+keeps+on+growth+track+as+fees+hit+900m.html (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9293357) |
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Date: February 8th, 2008 2:31 PM Author: high-end windowlicker stag film Whole bunch of California additions: Gibson, O'Melveny, Sheppard, Irell, Munger, Manatt, Luce Forward etc: http://www.law.com/jsp/article.jsp?id=1202469637231 (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9293386) |
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Date: February 11th, 2008 10:20 AM Author: Appetizing sanctuary hominid Skadden: http://www.thelawyer.com/cgi-bin/item.cgi?id=131114&d=415&h=417&f=416
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Date: February 11th, 2008 12:59 PM Author: high-end windowlicker stag film Thanks for the additions; I've added them to the OP. Also added Dechert: http://www.legalweek.com/Articles/1094867/Dechert+joins+double-digit+club+for+'07+results.html and White & Case: http://www.thelawyer.com/cgi-bin/item.cgi?id=131114&d=415&h=417&f=416 (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9307986) |
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Date: February 13th, 2008 11:01 AM Author: high-end windowlicker stag film Baker Botts: http://www.legalweek.com/Articles/1095668/Texas+leader+in+19+profits+surge.html (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9318448) |
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Date: February 14th, 2008 1:07 AM Author: high-end windowlicker stag film Sidley and Nixon: http://www.legalweek.com/Articles/1095606/US+quartet+post+healthy+revenue+rises+for+2007.html (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9322982) |
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Date: February 14th, 2008 12:53 PM Author: Flesh Meetinghouse Roommate Profits per equity partner (PEP) at Weil Gotshal improved by 11% to reach $2.11m (£1.07m). Total revenue at the New York law firm increased by 12% to $1.175bn (£596.8m), up from $1.050bn (£533.4m) in 2006.
Milbank, meanwhile, more than doubled its growth rate of 2006 to record an 18.8% surge in global fee income, from $540.8m (£274.6m) to $642.5m (£326.2m). PEP rose by a similar amount, up 16.4% to $2.53m (£1.28m), compared to $2.17m (£1.10m) in 2006.
http://www.legalweek.com/Articles/1096229/Weil+breaks+2m+PEP+as+Milbank+ups+pace.html |
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Date: February 14th, 2008 12:58 PM Author: Flesh Meetinghouse Roommate Mayer Brown saw both revenue and partner profits increase by 9%, with turnover at the top 10 US firm rising from $1.084bn (£550.4m) in 2006 to a new mark of $1.183bn (£600.6m).Profits per equity partner (PEP) moved to $1.24m (£629,000) in 2007, up from $1.14m (£577,000) for the year before.
Winston saw revenues increase by 14% in 2007, reaching $697.4m (£354.0m), compared to $612m (£311m) in 2006. PEP increased by 6.5% at the Chicago firm to hit $1.28m (£649,000), up from last year’s figure of $1.20m (£609,000).
http://www.legalweek.com/Articles/1096198/Mayer+Brown,+Winston+unveil+strong+'07+figures.html
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Date: February 14th, 2008 1:19 PM Author: high-end windowlicker stag film Thanks, added these to the above.
Also WSGR: http://www.legalweek.com/Articles/1096475/Fees+up+75+but+profits+flat+at+O'Melveny.html |
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Date: February 15th, 2008 12:36 PM Author: high-end windowlicker stag film DLA Piper: http://www.legalweek.com/Articles/1096601/DLA+Piper+smashes+2bn+barrier+for+global+revenue.html Paul Hastings: http://www.thelawyer.com/cgi-bin/item.cgi?id=131246&d=415&h=417&f=416 Heller: http://www.thelawyer.com/cgi-bin/item.cgi?id=131099&d=415&h=417&f=416 |
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Date: February 16th, 2008 9:10 AM Author: Flesh Meetinghouse Roommate Profits per equity partner (PEP) at Paul Hastings were up to reach $1.92m (£979,000), an improvement of 19.6% from last year’s mark of $1.61m (£821,000). Total revenue, meanwhile, was up 20% from $813.5m (£414.6m) to a new high of $976m (£498m) in 2007.
http://www.legalweek.com/Articles/1096991/Fees+and+profits+up+a+fifth+at+Paul+Hastings.html |
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Date: February 16th, 2008 9:34 AM Author: indigo kink-friendly gaping boltzmann the only question I care about is when will associate pay go up? Making partner is statistically so difficult that I discounted it on day 1. You have to suck major cock to make partner. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9335063) |
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Date: February 19th, 2008 1:26 PM Author: maniacal spot athletic conference and yet you patted yourself on the back above because your firm's partners are doing so "well"? So apparently, it's not the only question your care about, although maybe it should be. |
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Date: February 19th, 2008 1:17 PM Author: high-end windowlicker stag film Hogan & Hartson: http://www.thelawyer.com/cgi-bin/item.cgi?id=131258&d=415&h=417&f=416 (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9351756) |
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Date: February 21st, 2008 10:52 AM Author: Flesh Meetinghouse Roommate Shearman Sterling
Global revenue grew by 9.4% to $921m (£471m), up from a mark of $842m (£430m) in 2006. Profits per equity partner (PEP), meanwhile, were up 11.9% to a new mark of $1.847m (£944,000), compared to $1.65m (£843,000) in 2006.
http://www.legalweek.com/Articles/1098496/City+leads+for+Shearman+in+strong+'07+results.html |
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Date: February 21st, 2008 12:18 PM Author: high-end windowlicker stag film Added, thanks. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9362974) |
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Date: February 23rd, 2008 2:58 PM Author: high-end windowlicker stag film "Greenberg Traurig has posted a 15 per cent increase in gross revenue for 2007, with turnover at the US national firm rising from $1.04bn (£519m) to $1.2bn (£599m).
Average profit per equity partner (PEP) at the expansionist firm rose by just under 9 per cent, hitting $1.3m (£650,000) from $1.2m (£600,000) in 2006. Total compensation for Greenberg's 288 full equity partners rose 14.6 per cent to $374.9m (£187.4m) while compensation to the 476 non-equity partners rose 24 per cent, to $205.5m (£102.7m).
Greenberg chief executive Cesar Alvarez said it had been "a good year", with the firm ending 2007 almost $20m (£10m) above budget." http://www.thelawyer.com/cgi-bin/item.cgi?id=131353&d=415&h=417&f=416 |
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Date: February 25th, 2008 12:34 AM Author: Flesh Meetinghouse Roommate Baker & McKenzie has reported global turnover growth of 20 per cent in the 2007 financial year, with total income rising to $1.83bn (£910m). The firm's average profit per equity partner figure rose by 22 per cent over the year, breaking the $1m (£500,000) level for the first time to reach $1.06m (£530,000).
http://www.thelawyer.com/cgi-bin/item.cgi?id=127953 |
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Date: February 25th, 2008 1:50 PM Author: high-end windowlicker stag film Added, thanks. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9384863) |
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Date: February 26th, 2008 1:15 AM Author: disrespectful shivering dopamine background story someone post katten muchin (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9388273) |
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Date: February 26th, 2008 1:16 AM Author: pearl crotch Stoel Rives? (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9388275) |
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Date: February 26th, 2008 1:08 PM Author: high-end windowlicker stag film "Dewey & LeBoeuf today (Monday 25 February) announced its first financial results since the merger of Dewey Ballantine and LeBoeuf Lamb Greene & MacRae last year.
Global revenue for 2007 was just over $1bn (£500m), representing an approximate increase of 9 per cent on the combined revenues of Dewey Ballantine and LeBoeuf for 2006, which add up to $921m (£460.4m). That year the two firms reported revenues of $408m (£203.9m) and $513m (£256.4m) respectively.
The average profit per equity partner (PEP) of the two firms in 2006 was $1.43m (£715,000). On that basis, PEP increased by almost 10 per cent last year, to $1.57m (£785,000)." http://www.thelawyer.com/cgi-bin/item.cgi?id=131458&d=415&h=417&f=416 |
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Date: March 4th, 2008 8:05 AM Author: mind-boggling very tactful temple Subject: S&C Sullivan & Cromwell has broken through the $1bn (£500m) revenue barrier for the first time, topping $3m (£1.51m) average profit per equity partner (PEP) in the process.
Internal sources have estimated that revenue will rise by approximately 12 per cent to $1.01bn (£508m) and PEP will rise by 11 per cent to $3.13m (£1.57m). While these figures are initial estimates, it is clear that Sullivan has achieved the iconic $1bn revenue and $3m PEP benchmarks.
http://www.thelawyer.com/cgi-bin/item.cgi?id=131498&d=415&h=417&f=416 |
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Date: March 5th, 2008 4:55 AM Author: high-end windowlicker stag film Thanks, sorry I missed this earlier. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9431817) |
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Date: March 6th, 2008 9:41 AM Author: Flesh Meetinghouse Roommate Profits per equity partner (PEP) at Debevoise rose by rose by 26.5% from $1.81m (£908,000) last year to a new high of $2.29m (£1.15m). Global revenue, meanwhile, was up by 23.4% from $575m (£288m) in 2006 to $709.54m (£355.84m).
http://www.legalweek.com/Articles/1103537/New+York's+Debevoise+has+stellar+'07.html |
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Date: March 6th, 2008 1:03 PM Author: high-end windowlicker stag film Added, thanks. (http://www.autoadmit.com/thread.php?thread_id=761861&forum_id=2#9438157) |
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Date: March 17th, 2008 11:03 AM Author: Flesh Meetinghouse Roommate Fried Frank Harris Shriver & Jacobson has announced its financial results for the 2007-08 year. Figures for Fried Frank's fiscal year, which unusually for a US firm closes at the end of February, show a 14 per cent increase in gross revenue to $537.4m (£268.6m) and a 5 per cent rise in average profit per equity partner (PEP), to $1.6m (£800,000).
http://www.thelawyer.com/cgi-bin/item.cgi?id=131775&d=415&h=417&f=416 |
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Date: March 25th, 2008 11:06 AM Author: Flesh Meetinghouse Roommate http://www.thelawyer.com/cgi-bin/item.cgi?id=131857
Kirkland 2.25 (12.3%)
Jones Day 770k
Simpson 2.87 (15.3%)
Davis Polk 2.4 (12.1)
Akin 1.2 (-7.0%)
Hunton Williams 850k (13.3%)
Fulbright 777k (.9%)
Cravath 3.30 (10%)
Vinson Elkins 1.2 (7.1%)
Wachtell 4.48 (14.9%) |