Biglaw Profits Per Partner (PPP) info for 2006
| bistre pervert volcanic crater | 01/13/07 | | Doobsian laser beams | 01/13/07 | | elite slippery parlour | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | Puce Theater Athletic Conference | 01/13/07 | | elite slippery parlour | 01/13/07 | | Puce Theater Athletic Conference | 01/13/07 | | elite slippery parlour | 01/13/07 | | Rusted Rough-skinned New Version | 01/13/07 | | passionate plaza french chef | 04/15/07 | | Adulterous vibrant sound barrier | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | opaque geriatric gay wizard | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | opaque geriatric gay wizard | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | trip frozen home | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | trip frozen home | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | trip frozen home | 01/13/07 | | pungent motley toilet seat | 01/13/07 | | trip frozen home | 01/13/07 | | Underhanded foreskin | 02/15/07 | | Puce Theater Athletic Conference | 01/13/07 | | pungent motley toilet seat | 01/13/07 | | Thirsty station cuckold | 01/13/07 | | pungent motley toilet seat | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | pungent motley toilet seat | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | sadistic national striped hyena | 01/13/07 | | Puce Theater Athletic Conference | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | elite slippery parlour | 01/13/07 | | Milky Harsh Bbw Death Wish | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | judgmental chapel | 01/13/07 | | bistre pervert volcanic crater | 01/13/07 | | federal school cafeteria | 01/14/07 | | Rusted Rough-skinned New Version | 01/14/07 | | bistre pervert volcanic crater | 01/14/07 | | bistre pervert volcanic crater | 01/25/07 | | Stubborn salmon rehab masturbator | 01/25/07 | | bistre pervert volcanic crater | 01/25/07 | | wild background story | 01/25/07 | | dashing dark area scourge upon the earth | 01/25/07 | | bistre pervert volcanic crater | 01/25/07 | | Impertinent crackhouse | 01/25/07 | | Underhanded foreskin | 02/08/07 | | Big trailer park | 01/25/07 | | bistre pervert volcanic crater | 01/25/07 | | spectacular submissive hunting ground | 01/25/07 | | bistre pervert volcanic crater | 01/25/07 | | bistre pervert volcanic crater | 01/25/07 | | spectacular submissive hunting ground | 01/25/07 | | bistre pervert volcanic crater | 01/25/07 | | spectacular submissive hunting ground | 01/25/07 | | bistre pervert volcanic crater | 02/03/07 | | Walnut hairraiser associate | 02/05/07 | | bistre pervert volcanic crater | 02/05/07 | | Walnut hairraiser associate | 02/06/07 | | bistre pervert volcanic crater | 02/07/07 | | bistre pervert volcanic crater | 02/07/07 | | bistre pervert volcanic crater | 02/08/07 | | Mind-boggling locus preventive strike | 02/09/07 | | bistre pervert volcanic crater | 02/09/07 | | Mind-boggling locus preventive strike | 02/09/07 | | bistre pervert volcanic crater | 02/09/07 | | Bipolar Pistol | 02/09/07 | | smoky provocative ratface | 02/09/07 | | bistre pervert volcanic crater | 02/12/07 | | Mauve beta goyim | 02/21/07 | | bistre pervert volcanic crater | 02/21/07 | | bistre pervert volcanic crater | 02/21/07 | | Mauve beta goyim | 02/21/07 | | bistre pervert volcanic crater | 02/21/07 | | Mauve beta goyim | 02/21/07 | | bistre pervert volcanic crater | 02/21/07 | | bistre pervert volcanic crater | 02/22/07 | | bistre pervert volcanic crater | 02/12/07 | | bistre pervert volcanic crater | 02/12/07 | | bistre pervert volcanic crater | 02/13/07 | | bistre pervert volcanic crater | 02/15/07 | | bistre pervert volcanic crater | 02/15/07 | | Mind-boggling locus preventive strike | 02/15/07 | | bistre pervert volcanic crater | 02/15/07 | | autistic lemon hominid state | 02/16/07 | | bistre pervert volcanic crater | 02/15/07 | | bistre pervert volcanic crater | 02/16/07 | | Flirting Lilac School Turdskin | 02/16/07 | | bistre pervert volcanic crater | 02/16/07 | | bistre pervert volcanic crater | 02/17/07 | | bistre pervert volcanic crater | 02/17/07 | | bistre pervert volcanic crater | 02/19/07 | | bistre pervert volcanic crater | 02/21/07 | | bistre pervert volcanic crater | 02/21/07 | | fighting kitty cat faggot firefighter | 02/22/07 | | bistre pervert volcanic crater | 02/26/07 | | racy rose legend famous landscape painting | 02/26/07 | | Marvelous slate telephone | 02/26/07 | | bistre pervert volcanic crater | 02/26/07 | | Marvelous slate telephone | 02/26/07 | | bistre pervert volcanic crater | 03/06/07 | | bistre pervert volcanic crater | 03/06/07 | | bistre pervert volcanic crater | 03/22/07 | | sadistic national striped hyena | 04/15/07 | | bistre pervert volcanic crater | 04/15/07 | | sadistic national striped hyena | 04/15/07 | | bistre pervert volcanic crater | 04/19/07 | | Twinkling Outnumbered Cuckoldry Crotch | 04/19/07 | | bistre pervert volcanic crater | 04/19/07 | | Twinkling Outnumbered Cuckoldry Crotch | 04/19/07 | | bistre pervert volcanic crater | 04/19/07 | | bistre pervert volcanic crater | 05/07/07 | | bistre pervert volcanic crater | 06/05/07 | | Obsidian Den | 06/05/07 | | bistre pervert volcanic crater | 06/05/07 | | bistre pervert volcanic crater | 06/11/07 | | histrionic step-uncle's house | 06/11/07 | | slimy abode | 06/11/07 |
Poast new message in this thread
Date: January 13th, 2007 5:11 PM Author: bistre pervert volcanic crater
EDIT: This list is no longer being updated. Numbers for all AmLaw 200 firms are on Westlaw at 6/2007 AMLAW 151
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 or use the anonymous email form at http://xoxoreader.blogspot.com/
Last year's numbers are here: http://www.xoxohth.com/thread.php?thread_id=373243&forum_id=2
Firm - PPP (percent change) / PPP including nonequity partners
Wachtell - $3.975m (+4.9%)
Cravath - $3.015m (+16%)
Cadwalader - $2.9m (+13.7%)
Sullivan - $2.8m (+8%)
Kirkland - $2.6m (+19.8%)
Cahill - $2.57m
Simpson - $2.5m (+5.3%)
Paul Weiss - $2.5m (+1%)
Quinn - $2.43m (+24%)
Davis - $2.43m (+16.8%)
Milbank - $2.17m (+7%)
Skadden - $2.15m (+16%)
Cleary - $2.1m (+7%)
Wilkie - $2.03m (+13%)
Dechert - $1.985m (+27%)
Weil - $1.95m (+4%)
Latham - $1.855m (+16%)
Debevoise - $1.806m (+7%)
Gibson - $1.75m (+7%)
Irell - $1.675m (+12%)
O'Melveny - $1.625m (+1%)
Paul Hastings - $1.605m (+21%)
Fried Frank - $1.53m (+23%)
White & Case - $1.5m (+21.1%)
Shearman - $1.48m (+14%)
Townsend - $1.44m (+6%)
Dewey - $1.44m
Orrick - $1.43m (+15%)
LeBoeuf - $1.43m (+8%)
Kaye Scholer - $1.41m (+10%)
McDermott - $1.4m (+10%)
King & Spaudling - $1.312m (+25%)
Wilson Sonsini - $1.3m (+30%)
Sidley - $1.3m (+6%)
Jeffer Mangels - $1.25m (-14%)
Morgan Lewis - $1.24m (+24%)
Munger - $1.22m (+12%)
Bingham - $1.22m (+0%)
Howrey - $1.2m (+28%)
Greenberg Traurig - ~$1.2m
MoFo - $1.13m (+8%)
DLA (US only) - $1.12m (+14%)
Loeb - $1.175m (+27%)
Akin Gump - ~$1.1m (+14%)
Manatt - $1.1m(+6%)
Sheppard Mullin - $1.025m (+4%)
Heller Ehrman - $1.035m (+17%)
Finnegan - ~$1m (+~20%)
Cooley Godward - ~$1.0m (+10%)
Reed Smith - $940k (+17%)
Jones Day - ~$900k
Pillsbury - $875k (+14%)
Allen Matkins - $740k (+10%)
Duane Morris - $728k (+8%)
Sedgwick - $705k (+11%)
Pepper Hamilton - $647k (+3.4%)
Luce Forward - $565k (+3%)
Buchanan Ingersoll - $522k (+14%)
Knobbe - $515k (-1%)
Littler Mendelson - ~$463k (+4%)
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7412059) |
Date: January 13th, 2007 5:12 PM Author: bistre pervert volcanic crater Subject: Recorder article on SF firms
The Recorder
January 10, 2007
FIRMS SURF M&A WAVE: CORPORATE WORK, LITIGATION BOOST PROFITS FOR MANY MAJOR
FIRMS
NEWS
By Zusha Elinson
The rising tide of M&A deals lifted law firms' bottom lines in 2006, swelling revenue for some firms and keeping others afloat.
'Put a 'B' for billion in the M&A column,' said Morrison & Foerster Chairman Keith Wetmore, whose firm advised on a number of billion-dollar deals last year.
While corporate lawyers were well-occupied, securities litigators got their own boost from corporate clients eager to cleanse themselves of backdating scandals. IP and mass tort litigators were also busy in 2006.
The trends brought big returns for most leading firms, according to The Recorder 's annual survey of California firm finances. More than a dozen firms with major California practices have released financial data thus far, and most reported double-digit gains in revenue from the previous year.
Nearly every firm reported two-digit growth in profit per equity partner, but fewer reported such high increases in revenue per lawyer -- a number that some legal industry observers say gives the best picture of a law firm's economic standing.
'I think that revenue per lawyer is the most accurate measure of a firm's financial health,' said Richard Gary, a law firm consultant with Gary Advisors. 'Profits per equity partner are subject to manipulation and can be all over the map.'
Quinn Emanuel Urquhart Oliver & Hedges boosted RPL 29 percent. With headcount up 20 percent, and some large contingency fees coming in, that helped push the firm's 2006 revenue up a whopping 54 percent to $298 million.
At Pillsbury Winthrop Shaw Pittman, revenue was up just 1 percent as it shed more than 111 lawyers, including 37 partners. But that helped the firm improve its RPL 16 percent, to $770,000.
'We are indeed a leaner firm than we were a year ago -- but that has made us more nimble and efficient and allowed us to draw more effectively on our talented partners and market-leading practices, which is why, despite fewer lawyers, our revenue exceeded what we earned last year, and profits rose considerably,' said new chairman James Rishwain Jr. 'Many lawyers who left were conflicted out as a result of the 2005 merger with Shaw Pittman.'
MoFo boosted its RPL as well -- by working its lawyers harder. The firm's headcount grew just 1 percent, but its revenue swelled 13 percent to $774 million, and RPL increased 12 percent to $820,000.
'We had capacity for our existing team to work a little harder, so we wanted to make sure that everyone's plate was full before adding more lawyers,' said MoFo's Wetmore, adding that recruits were at a premium in 2006.
Littler Mendelson saw RPL increase 10 percent.
It was a different story at Fenwick & West, where revenue per lawyer was up just 2 percent, one of the lowest among the firms that have compiled year-end results thus far. Revenue was up 5 percent even though other Silicon Valley firms, like Wilson Sonsini Goodrich & Rosati and Cooley Godward Kronish, saw double-digit increases, thanks in part to the hot deal market.
Managing Partner Gordon Davidson said that a challenge for Fenwick, known for its emerging companies practice, is replacing those clients when so many are being acquired. Still, M&A deal flow 'continued strong for the fourth consecutive year,' he said.
THE PROFITS PICTURE
Several firms reported PPP above $1 million. Quinn Emanuel topped the list with $2.43 million, followed by Orrick, Herrington & Sutcliffe at $1.43 million -- a 15 percent jump from the previous year.
At Orrick, revenue was up 20 percent to $666 million in part because of its rapid expansion last year. The firm added offices and 116 lawyers, bringing the headcount to 839 -- a 16 percent spike from 2005. Though the new lawyers brought in revenue, the new offices brought in more bills.
'Our revenues are great, but we would have been more ahead without those investments,' said Orrick's Ralph Baxter Jr., whose firm posted a 4 percent gain in RPL.
Wilson saw the most dramatic growth in PPP, which shot up 30 percent to $1.3 million -- due in part to 35 fewer equity partners, according to the firm's 2006 calculations.
'We have one category of partners -- they're equity partners,' said Wilson CEO John Roos. 'We really don't agree with the definition [that ALM uses].'
This year, though, the firm decided to apply the American Lawyer magazine rules, under which 31 partners qualify for nonequity status.
'We sat there and said, 'This is the definition, and let's just apply the definition to be consistent with what's out there. There wasn't any particular reason [to do so this year].'
Pillsbury's PPP picked up 14 percent to $875,000, even as it reported a 40 percent increase in its number of equity partners.
In 2005, when Pillsbury's profits and revenue were flat, the firm reported a big dip in the number of equity partners.
'Increased profitability simply placed more of our partners into the equity range, as measured by Am Law,' Rishwain said. Under Am Law rules, nonequity partners are those whose guaranteed income makes up more than half their total compensation.
MoFo's PPP increased 8 percent to $1.13 million, even while the firm's equity partner ranks swelled by 10 percent. In 2005, the firm shifted about 50 partners from equity to nonequity status.
Reed Smith boosted PPP 17 percent to $940,000.
Littler saw a modest increase in PPP, which was up 4 percent. The San Francisco-based employment firm increased headcount 10 percent as it added six new offices. Revenue was up 20 percent.
Two firms -- Cooley and Heller Ehrman -- reported that their PPP had topped $1 million for the first time. Cooley's PPP grew 10 percent, even though the firm saw more than a 10 percent increase in its number of equity partners.
At Heller, revenue and RPL were up modestly. But PPP grew 17 percent, which the firm attributed in part to partner retirement and defections that trimmed the ranks by 9 percent.
Reporter Zusha Elinson's e-mail address is zelinson@alm.com. Reporters Petra Pasternak and Jessie Seyfer contributed to this story.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7412064) |
Date: January 13th, 2007 5:14 PM Author: Puce Theater Athletic Conference
littler is so TTT. sweet irony, a firm that works exclusively to screw over employees does the same thing to its own attorneys
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7412075) |
Date: January 13th, 2007 5:17 PM Author: Adulterous vibrant sound barrier
Is Quinn's increase based on their contingency work again?
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7412089) |
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Date: January 13th, 2007 5:35 PM Author: trip frozen home
That's in pounds.
Its about ~900K USD.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7412169) |
Date: January 13th, 2007 5:20 PM Author: Puce Theater Athletic Conference
the global 100 is interesting when you consider exchange rates. guess foreign companies are taking advantage of the low cost
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7412104) |
Date: January 13th, 2007 5:26 PM Author: pungent motley toilet seat
Faegre is such a TTT.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7412145) |
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Date: January 13th, 2007 9:27 PM Author: Thirsty station cuckold
I would pick Faegre over Dorsey. Most would.
hth.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7413650) |
Date: January 13th, 2007 5:31 PM Author: pungent motley toilet seat
Wachtell - $3.79m (+8.3%)
Cravath - $2.600m (+17.9%)
Cadwalader - $2.545m (+20.6%) / $2.025m
Paul Weiss - $2.475m (+14.8%)
Sullivan - $2.410m (+2.6%)
Simpson - $2.370m (+1.7%)
Cahill - $2.285m (-6.9%) / $2.255m
Kirkland - $2.120m (+7.3%) / $1.160m
Milbank - $2.020m (+6.3%) / $1.935m
Davis - $2.000m (-0.2%)
Cleary - $1.960m (+14.3%)
Quinn - $1.96m (+1%)
Skadden - $1.910m (+10.1%)
Schulte - $1.900m (+4.7%) / $1.885m
Weil - $1.830m (+7.6%) / $1.535m
Willkie - $1.790m (+9.1%)
Debevoise - $1.675m (+10.9%)
Gibson - $1.635m (+7.9%)
O'Melveny - $1.615 (+23.3%) / $1.515m
Latham - $1.600m (+13.9%) / $1.400m
Dechert - $1.560m (+26.3%) / $1.195m
Irell - $1.5m (-3%)
Shearman - $1.385m (+20.4%) / $1.335m
Kramer Levin - $1.375m (+13.6%) / $1.150m
LeBoeuf - $1.32m (+14.2%) / $1.095m
Paul Hastings - $1.325m (+12.8%) / $1.205m
Kaye Scholer - $1.285m (+8.9%) / $1.260m
McDermott - $1.280m (+7.6%) / $825k
Goodwin Proctor - $1.245m (+6.9%) / $1.005m
Orrick - $1.240m (+13.8%) / $865k
Fried Frank - $1.240m (+7.4%)
White & Case - $1.240m (+1.6%) / $1.075m
Sidley - $1.235m (+21.1%) / $890k
Dewey - $1.225m (-0.4%) / $1.070m
Proskauer - $1.220m (+7.0%) / $1.190m
Bingham - $1.220m (+6.1%) / $780k
Stroock - $1.145m (+8.0%)
Winston - $1.115m (+13.2%) / $675k
Hughes Hubbard - $1.100m (+8.4%)
Gunderson - $1.1m
Greenberg Traurig - $1.090m (+10.7%) / $610k
Munger - ~$1.08m (+4%)
Ropes - $1.080m (+1.9%)
Vinson - $1.070m (+19.6%) / $940k
Dickstein - $1.065m (+30.7%) / $840k
King & Spaulding - $1.050m (-10.6%) / $820k
MoFo - $1.050m (+27.3%) / $835k
DLA Piper - $1.000m / $645k
Morgan Lewis - $1.000 (+11.1%) / $780k
Manatt - $1.03m (+12%)
Wilson Sonsini - $980k (+13.3%)
Covington - $975k (+18.2%)
Akin Gump - $965k (+8%) / $800k
Chadbourne - $965m (-3.5%) / $725k
Howrey - $960k (+23.9%) / $690k
Mayer Brown - $955k (+5.5%)
Katten Muchin - $935k (+9.4%) / $655k
Loeb - $926k (+30%)
WilmerHale - $915k (+5%.2)
Cooley Godward - $910k (+7.1%) / $890k
Baker Botts - $905k (+4.6%) / $860k
Fish & Richardson - $905k (+15.3%) / $660k
Hogan - $905k (+9.7%) / $725k
Heller - $885k (+3.5%) / $745k
Fenwick - $905k (-3%)
Heller - $885k (+4%) / $745k
Finnegan - $870k (-2.8%) / $805k
Steptoe - $855k (+8.9%)
Thelen Reid - $850k (+44.1%) / $685k
Foley - $845k (+13.4%) / $610k
Arnold & Porter - $835k (+0.6%)
Mintz Levin - $835k (+4.4%) / $550k
Alston & Bird - $810k (-13.4%) / $580k
Reed Smith - $800k (+20.3%) / $530k
Sonnenschein - $800k (+11.1%) / $560k
Sutherland - $800k (+12.7%) / $715k
Sheppard - $785k (+15%) / $725k
Wilson Elser - $775k (+6.9%) / $525k
Pillsbury - $765k (-1.9%) / $545k
Baker McKenzie - $760k (+16.9%)
Kirkpatrick - $725k (+9.0%) / $510k
Jones Day - $720k (+8.3%) / $700k
Fulbright - $715k (+6.7%)
Jenner - $710k (+7.6%) / $700k
Andrews Kurth - $705k (+7.6%) / $610k
Duane Morris - $675k (+18.4%) / $475k
Hunton & Williams - $670k (+4.7%) / $575k
Allen Matkins - $675k (+16%)
Sedgewick - $640k (-7%)
Pepper Hamilton - $625k (+5.0%) / $535k
Squire Sanders - $625k (+3.3%) / $510k
Patton Boggs - $620k (-2.4%) / $510k
Bryan Cave - $615k (+15.0%) / $490k
Kilpatrick - $615k (+2.5%) / $500k
Perkins Coie - $610k (+22.0%) / $460k
McGuireWoods - $605k (0%)
Seyfarth Shaw - $600k (+12.1%) / $490k
Edwards Angell - $600k / $545k
Venable - $595k (+7.2%) / $480k
Drinker Biddle - $575k (+15.0%) / $520k
Blank Rome - $570k (+5.6%) / $485k
Nixon Peabody - $570k (+3.6%) / $500k
Troutman - $550k (+6.8%) / $425k
Baker & Hostetler - $535k (-1.8%) / $445k
Shook Hardy - $520k (+9.5%) / $400k
Womble Carlyle - $515k (-8.0%) / $385k
Buchanan Ingersoll - $485k (+20%)
Dorsey - $485k (+1.0%) / $435k
Holland & Knight - $480k (+7.9%) / $375k
Cozen O'Connor - $470k (+2.2%) / $370k
Littler - $445k (+2%)
Faegre & Benson - $410k (+9.3%)
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7412156) |
Date: January 13th, 2007 5:41 PM Author: Milky Harsh Bbw Death Wish
there is no way Jones Day is that high. look at their Atlanta office.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7412201) |
Date: January 13th, 2007 8:16 PM Author: judgmental chapel
When does the total ppp list come out?
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7413211) |
Date: January 14th, 2007 10:15 PM Author: Rusted Rough-skinned New Version
Why isn't Knobbe Martin on the list? I thought that firm paid a lot?
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7420292) |
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Date: January 14th, 2007 11:24 PM Author: bistre pervert volcanic crater
I've heard that seniors and partners don't make very much there, since it's more of a lifestyle place.
The numbers are all self-reported, anyway, and a lot of smaller firms don't report. I have Gunderson on last year's list because there was an article on them, but they aren't on the actual AmLaw 200 table.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7420998) |
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Date: January 25th, 2007 10:22 AM Author: bistre pervert volcanic crater
It was on law.com today -- I think every day there are one or two articles that you can access without a password, and if it's on law.com you're in luck (same thing with the Cali paper, the Recorder)
I also just search Westlaw from time to time.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7482620) |
Date: January 25th, 2007 10:16 AM Author: spectacular submissive hunting ground
Anyone have a link to the PPP stats for the Magic Circle?
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7482586) |
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Date: January 25th, 2007 10:39 AM Author: bistre pervert volcanic crater
Actually I just realized last year's chart didn't have the numbers for the Magic Circle firms since they are in the "Global 100" list and not the "AmLaw 100" list. Here's an article with the Magic Circle PPP: http://www.thelawyer.com/cgi-bin/item.cgi?id=120843&d=11&h=24&f=46 (scroll to the bottom)
Numbers are in pounds. If you want to see how they stack up in dollars, check Westlaw for the Global 100 issue -- I can't search for it right now.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7482720) |
Date: February 5th, 2007 6:42 PM Author: Walnut hairraiser associate
Susman Godfrey - 3.9mil
http://www.accessmylibrary.com/coms2/summary_0286-14975961_ITM
Down a little bit from 05, but the article doesn't say how much exactly. Net profits were down about 10%
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7549764) |
Date: February 9th, 2007 10:27 AM Author: Mind-boggling locus preventive strike
Munger $1.22 Million (+12%)
Bingham McCutchen $1.22 Million (+0%)
Loeb&Loeb $1.175 Million (+27%)
Manatt $1.1 Million (+6%)
Sheppard Mullin $1.025 Million (+4%)
Sedgwick $705,000 (+11%)
Allen Matkins $740,000 (+10%)
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7572101)
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Date: February 9th, 2007 11:22 AM Author: Bipolar Pistol
Will Cadwalader beat Cravath in PPP? Consequences?
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7572335) |
Date: February 12th, 2007 1:36 AM Author: bistre pervert volcanic crater
Latham and OMM: http://www.law.com/jsp/ca/PubArticleCA.jsp?id=1168336939176
The numbers for PPP including nonequity partners is my estimate based on PPP * # of equity partners / (# of equity partners + # of non-equity partners). All that info is on the link above.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7587937) |
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Date: February 21st, 2007 1:00 AM Author: Mauve beta goyim Subject: PPP including nonequity
The numerator in the formula needs to be:
(PPP* # of equity partners) + (total comp to non-equity partners)
Otherwise you are ignoring comp paid to non-equity partners, and artificially deflating the number.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7640474) |
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Date: February 21st, 2007 9:06 PM Author: Mauve beta goyim Subject: Second Class Citizens
" it is *profit* per partner, after all -- but I agree that it seems to misinterpret the point of PPP as an indicator of partner comp."
It is so easy to forget -- NEP compensation is not salary; it is paid & taxed (to the NEP), and accounted for (by the firm) as allocation/distribution of partner profits.
The measure we usually call PPP is really PEP, which is: money left over after spending on everything but EP comp, divided by # of EPs.
PPP including NEPs (if we used "PPP" literally, it should include NEPs anyway, but we never use the term that way), would draw the circle around all the partners, including the sham . . sorry, non-equity partners. It would be: money left over after spending on everything but all partner comp, divided by all partners.
I bet AmLaw does it correctly. I know The Lawyer.com does it right for UK firms.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7645897)
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Date: February 21st, 2007 9:30 PM Author: bistre pervert volcanic crater
The reason that I'm not sure AmLaw does it properly is because they are dependent on the firms to give them the info. Now there's a couple reasons why firms wouldn't give the info. First of all they have no real requirement to do so. But more importantly, AmLaw's definition of NEP is their own definition. They define it as any partner who gets 50% of their comp in salary instead of profits or something like that. Not every firm defines nonequity partner that way. So AmLaw would probably get a big mish-mash of results if you tried asking for that info.
However, AmLaw does know 1) total profits and 2) total equity partners and 3) total non-equity partners that match their definition so that's why I think they might take the easy way out.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7646033) |
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Date: February 21st, 2007 9:12 PM Author: Mauve beta goyim Subject: NEP Comp
This actually raises an interesting point about information in the market.
Associate salaries and bonuses are generally widely broadcast, precise to the last $. Profits per Equity Partner is published annually by a major trade publication(though some gaming of the accounting does go on).
But NEP comp is an information black hole. The two-tier structure is getting more common, and I bet NEP will be a more likely place than EP for people to end up, but there is no information -- barely even rumors -- on NEP comp.
Why is that?
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7645927) |
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Date: February 21st, 2007 9:31 PM Author: bistre pervert volcanic crater
Couple of posts here and there about Kirkland's NEP comp. I'll have to look for it again, I think it's on my blog somewhere.
You could also make the point that there aren't very many detailed explanations of equity partner compensation either. The most detailed one I have is Latham's which was posted on Greedy Junior Partners a while ago.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7646046) |
Date: February 12th, 2007 1:41 AM Author: bistre pervert volcanic crater
Added in estimates of PPP including nonequity partners for WSGR, MoFo, Heller, and Orrick (see also the Recorder article above).
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7587971) |
Date: February 13th, 2007 10:11 AM Author: bistre pervert volcanic crater Subject: Recorder article on LA firms
The Recorder
Vol. 131st Year 29
MONDAY, february 12, 2007, No. 29
Copyright 2007 by American Lawyer Media, ALM, LLC
February 12, 2007
PALM TREES & PROFITS: L.A. FIRMS REPORT STRONG REVENUE GAINS, SO-SO RPL GROWTH
NEWS
By Kellie Schmitt
The Recorder
LOS ANGELES -- A boost in M&A deals and intellectual property work propelled revenue and profits ever higher at major L.A.-based law firms in 2006. But most firms saw more measured growth in revenue per lawyer.
Even at the biggest firm in the state -- Latham & Watkins, where revenue was up 15 percent and profits up 16 percent -- the firm's revenue per lawyer advanced just 5 percent.
Firms cited a variety of reasons why growth in RPL may be slowing, not least of which is that it's been soaring for several years running.
'There's nothing wrong with single digits,' said Newport Beach-based consultant Peter Zeughauser. 'We've just gotten spoiled.' That may sound good to O'Melveny & Myers, because single digits was all it could muster: Profits per partner and revenue per lawyer increased by just one percent.
Chairman Arthur Culvahouse attributed those middling results to a 'lumpy year' for the transactional practice.
'We were better at realization and our rates were higher, but we didn't have the hours,' he said. 'It wasn't until the last couple months that all of our 13 offices seemed busy at the same time.'
Gibson, Dunn & Crutcher was somewhere in the middle, with RPL and headcount each up four percent, boosting revenue 8 percent.
Zeughauser said firms have been adding capacity, which brings down RPL in the short term but is still a positive. 'It shows they feel the work will be there, and they're staffing up for it,' he said.
Despite a slow year for bankruptcy, Sheppard, Mullin, Richter & Hampton's corporate and IP practices drove revenue up 14 percent, Managing Partner Guy Halgren said.
Sheppard, Mullin's RPL was also up just 1 percent. Halgren said billing rates leveled off, and the firm spent more on new offices and technology upgrades.
'To some extent, this was a year of investment,' Halgren said.
Munger, Tolles & Olson, which boosted headcount 14 percent, also reported flat RPL figures, though they, like Gibson, are above $1 million. To put that in perspective, it means the average lawyer at those firms would have billed at least 2,000 hours at $500 an hour.
Two firms kept a lid on hiring, and as a result netted larger gains in RPL. Manatt, Phelps & Phillips added just one lawyer, boosting RPL 8 percent. Likewise, headcount at Allan Matkins Leck Gamble Mallory & Natsis was up 3 percent, allowing the firm to boost RPL 8 percent.
But Loeb & Loeb was able to blow through almost all the metrics. The firm posted a 23 percent increase in revenue, and a 27 percent increase in profits on double-digit headcount growth. RPL was up 6 percent.
'We had a significant increase last year as well -- it's a two-year trend rather than something aberrational,' said Loeb Co-Chairman John Frankenheimer. He attributed the growth to Loeb's long-term plan to be mid-sized and focused.
Growth isn't an aberration for Latham, either. The firm, which has 625 lawyers in California alone, saw revenue top $1.5 billion.
'The remarkable thing is that there was no particular area that spiked -- it was an across the board performance,' said Latham & Watkins Chairman Robert Dell said, adding that the firm's offices in Asia and Europe saw higher growth than in previous years. 'We grew the revenue base quite significantly without a merger, and only added 3 percent to the equity partnership.'
The Big Numbers
O'Melveny and Gibson, Dunn came in a distant second and third in overall revenue, at $869 million and $809 million respectively.
Gibson Managing Partner Kenneth Doran pointed to 'extraordinarily strong' litigation and arbitration in Europe as well as the firm's appellate group, which 'was definitely one of the strongest in the country last year,' he said.
O'Melveny's Culvahouse, meanwhile, blamed the firm's flat profits in part on a slow transactional year -- private equity clients were gathering money, he said, not making deals. Jeffrey Skilling, the former Enron executive, didn't help either.
'Our commitment to the Skilling team exceeded the financial return,' Culvahouse said. 'Jeff Skilling asked us to represent him and we continued to put our best team on the field, notwithstanding the fact that circumstances made it very difficult for him to pay us full value.'
Munger, Tolles' gross revenue climbed 14 percent, and PPP was up 11 percent. Along with busy corporate and litigation practices, Co-Managing Partner Bart Williams pointed to 'a tremendous year' in the intellectual property arena.
Manatt's 8 percent increase in revenue was primarily a result of strong performance in litigation, particularly intellectual property, as well as robust M&A and capital markets, said Managing Partner William Quicksilver.
Luce, Forward, Hamilton & Scripp's 11 percent revenue gain was the result of strong real estate and insurance litigation tempered by a slower bankruptcy practice in San Diego, said Robert Bell, the managing partner. They were able to raise billing rates about five percent last year: 'We're a real bargain so we have a lot of room -- [rates] haven't been a problem for our clients,' Bell said.
Quinn Emanuel Urquhart Oliver & Hedges reported last month that revenue soared more than 50 percent.
Paul, Hastings, Janofsky & Walker's fiscal year ended Jan. 31 and financial results still aren't available. But Chairman Seth Zachary said the firm is 'very bullish' about its financials, adding 'our revenue per lawyer will be way up this year,' as well as gross revenue and profits per partner.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7595016) |
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Date: February 15th, 2007 11:34 AM Author: Mind-boggling locus preventive strike
"Chairman Seth Zachary said the [London] office was the firm’s “busiest” during 2006, with the office’s 40 lawyers recording an average of 1,900 billable hours - 5 per cent higher than the firm’s global average."
That's downright liveable.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7608188)
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Date: February 15th, 2007 10:28 AM Author: bistre pervert volcanic crater
Irell and Knobbe Martens: http://www.law.com/jsp/ca/PubArticleCA.jsp?id=1168336939176
Note that the number of partners at Irell went down by 4%, so this would inflate PPP a bit.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7607955) |
Date: February 16th, 2007 3:46 PM Author: bistre pervert volcanic crater
Morgan Lewis and Jeffer Mangels: http://www.law.com/jsp/ca/PubArticleCA.jsp?id=1168336939176
I don't know much about Jeffer, but apparently even with a 14% decline in PPP, they're still making more money than Munger.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7615509) |
Date: February 16th, 2007 4:04 PM Author: Flirting Lilac School Turdskin
http://www.averyindex.com/2007_schiltz.php
I think these are this year's numbers. It lists PPP as 120-180.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7615633) |
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Date: February 16th, 2007 4:29 PM Author: bistre pervert volcanic crater
They are 2005 at best, given that most of these firms haven't announced 2006 numbers yet.
EDIT: Actually yeah, they match the rankings for the 2005 numbers, so that is most likely what he used.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7615792) |
Date: February 22nd, 2007 5:27 PM Author: fighting kitty cat faggot firefighter
Hmm, I should probably stick this on LFD in chart format.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7651049) |
Date: April 19th, 2007 9:19 AM Author: bistre pervert volcanic crater
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#7962093) |
Date: May 7th, 2007 9:46 AM Author: bistre pervert volcanic crater
Not updating this list anymore. I added the Westlaw cite to the OP for the AmLaw 100 list; I'll replace it with the AmLaw 200 list when that is available.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#8076760) |
Date: June 5th, 2007 10:17 PM Author: bistre pervert volcanic crater
Updated OP with the Westlaw cite for the AmLaw 200 list.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#8218323) |
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Date: June 5th, 2007 11:25 PM Author: bistre pervert volcanic crater
Hm, I just tried it and it worked for me.
You can just search the AMLAW database for "full profits picture" and it should come up.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#8218767) |
Date: June 11th, 2007 1:44 AM Author: histrionic step-uncle's house
this makes me really sad. The most you can possibly hope for is a measly $4 million a year if everything goes your way? My parents make 7 figures working <30 hours week. This is truly just pathetic.
(http://www.autoadmit.com/thread.php?thread_id=563047&forum_id=2#8241488) |
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