Biglaw Profits Per Partner (PPP) info for 2005
| boyish free-loading theatre mood | 03/05/06 | | stimulating misanthropic theater stage | 03/05/06 | | Sadistic point | 03/05/06 | | concupiscible cuckold property | 03/05/06 | | stimulating misanthropic theater stage | 03/05/06 | | concupiscible cuckold property | 03/05/06 | | stimulating misanthropic theater stage | 03/05/06 | | concupiscible cuckold property | 03/05/06 | | stimulating misanthropic theater stage | 03/05/06 | | concupiscible cuckold property | 04/18/06 | | stimulating misanthropic theater stage | 04/18/06 | | concupiscible cuckold property | 04/18/06 | | stimulating misanthropic theater stage | 04/18/06 | | Judgmental sapphire box office love of her life | 04/18/06 | | stimulating misanthropic theater stage | 03/07/06 | | stimulating misanthropic theater stage | 04/18/06 | | concupiscible cuckold property | 04/18/06 | | stimulating misanthropic theater stage | 04/18/06 | | concupiscible cuckold property | 04/18/06 | | Judgmental sapphire box office love of her life | 04/18/06 | | racy jet native regret | 05/03/06 | | racy jet native regret | 05/03/06 | | bearded cruel-hearted associate theater | 03/05/06 | | claret coffee pot location | 03/05/06 | | Saffron house | 03/05/06 | | hateful flickering main people | 11/15/06 | | spruce violent space | 03/05/06 | | stimulating misanthropic theater stage | 03/05/06 | | boyish free-loading theatre mood | 03/05/06 | | spruce violent space | 03/06/06 | | boyish free-loading theatre mood | 03/06/06 | | stimulating misanthropic theater stage | 03/06/06 | | spruce violent space | 03/06/06 | | ruddy toilet seat | 11/15/06 | | Slate Bat Shit Crazy Brunch | 03/06/06 | | Painfully Honest Effete Old Irish Cottage Depressive | 05/03/06 | | purple laughsome step-uncle's house | 11/29/06 | | boyish free-loading theatre mood | 03/05/06 | | Orange hall boltzmann | 03/05/06 | | boyish free-loading theatre mood | 03/05/06 | | claret coffee pot location | 03/05/06 | | boyish free-loading theatre mood | 03/05/06 | | claret coffee pot location | 03/05/06 | | boyish free-loading theatre mood | 03/05/06 | | boyish free-loading theatre mood | 03/05/06 | | bearded cruel-hearted associate theater | 03/05/06 | | Bonkers Bright Mediation | 03/06/06 | | Drab Spot | 03/06/06 | | spruce violent space | 03/06/06 | | chocolate insanely creepy sanctuary | 03/05/06 | | bearded cruel-hearted associate theater | 03/05/06 | | claret coffee pot location | 03/05/06 | | spruce violent space | 03/05/06 | | stimulating misanthropic theater stage | 03/05/06 | | very tactful pearl kitchen fat ankles | 05/03/06 | | embarrassed to the bone cobalt jew orchestra pit | 03/06/06 | | Tripping Crusty Mexican Laser Beams | 03/05/06 | | spruce violent space | 03/05/06 | | Tripping Crusty Mexican Laser Beams | 03/05/06 | | Drab Spot | 03/06/06 | | boyish free-loading theatre mood | 03/05/06 | | boyish free-loading theatre mood | 03/05/06 | | boyish free-loading theatre mood | 03/05/06 | | Drab Spot | 03/07/06 | | boyish free-loading theatre mood | 03/07/06 | | multi-colored abode | 03/05/06 | | Sepia Bull Headed Mad Cow Disease | 03/05/06 | | Arrogant trump supporter piazza | 03/06/06 | | boyish free-loading theatre mood | 03/06/06 | | Arrogant trump supporter piazza | 03/06/06 | | boyish free-loading theatre mood | 03/06/06 | | boyish free-loading theatre mood | 03/06/06 | | puce resort | 03/06/06 | | glittery school | 03/06/06 | | lemon rebellious senate | 03/06/06 | | boyish free-loading theatre mood | 03/06/06 | | lemon rebellious senate | 03/06/06 | | boyish free-loading theatre mood | 03/07/06 | | 180 hyperactive nursing home | 03/07/06 | | 180 hyperactive nursing home | 03/07/06 | | boyish free-loading theatre mood | 03/07/06 | | Heady hairless hell son of senegal | 03/26/06 | | boyish free-loading theatre mood | 03/07/06 | | 180 hyperactive nursing home | 03/07/06 | | abusive coral market | 03/08/06 | | beta vigorous crackhouse idea he suggested | 03/09/06 | | boyish free-loading theatre mood | 03/09/06 | | boyish free-loading theatre mood | 03/19/06 | | Out-of-control Vermilion Ceo Faggot Firefighter | 03/19/06 | | boyish free-loading theatre mood | 03/19/06 | | boyish free-loading theatre mood | 03/24/06 | | Floppy gay personal credit line | 03/24/06 | | boyish free-loading theatre mood | 03/24/06 | | adulterous low-t nibblets | 03/24/06 | | boyish free-loading theatre mood | 03/24/06 | | boyish free-loading theatre mood | 03/24/06 | | boyish free-loading theatre mood | 04/08/06 | | boyish free-loading theatre mood | 04/08/06 | | boyish free-loading theatre mood | 04/24/06 | | boyish free-loading theatre mood | 05/02/06 | | boyish free-loading theatre mood | 05/02/06 | | boyish free-loading theatre mood | 05/03/06 | | Painfully Honest Effete Old Irish Cottage Depressive | 05/03/06 | | boyish free-loading theatre mood | 05/03/06 | | Painfully Honest Effete Old Irish Cottage Depressive | 05/03/06 | | boyish free-loading theatre mood | 05/03/06 | | Plum Exciting Center | 11/14/06 | | boyish free-loading theatre mood | 11/14/06 | | Curious dead institution | 11/14/06 | | boyish free-loading theatre mood | 11/14/06 | | Alcoholic Halford | 11/14/06 | | boyish free-loading theatre mood | 11/15/06 | | Alcoholic Halford | 11/15/06 | | boyish free-loading theatre mood | 11/15/06 | | Alcoholic Halford | 11/15/06 | | boyish free-loading theatre mood | 11/15/06 | | Electric office | 11/15/06 | | Contagious grizzly gas station french chef | 11/15/06 | | boyish free-loading theatre mood | 11/15/06 | | Electric office | 11/15/06 | | Electric office | 11/15/06 | | vivacious vengeful plaza international law enforcement agency | 11/15/06 | | Electric office | 11/15/06 |
Poast new message in this thread
Date: March 5th, 2006 4:48 PM Author: boyish free-loading theatre mood
EDIT: This list isn't being maintained anymore. For the most recent list, see the AmLaw 200 issue. It's on Westlaw at 6/2006 AMLAW 143. For 2006 numbers, see http://www.xoxohth.com/thread.php?thread_id=563047&mc=57&forum_id=2
Law firms are reporting financial info, so I might as well collect them into one list. 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. (EDIT: See below.)
This list is complete through the AmLaw 100 (and a few others), and I'll update it as more info is released. If you run across new/updated info, please contribute a link and I'll add it.
Firm - PPP (percent change) / PPP including nonequity partners
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%)
Last year's numbers: http://www.xoxohth.com/thread.php?thread_id=370701&mc=19&forum_id=2#5220914
Rankings by RPL: http://www.bmacewen.com/blog/archives/2006/04/the_2006_amlaw_100_ranked.html
Some rumors/speculation about firms misrepresenting PPP to AmLaw: http://prawfsblawg.blogs.com/prawfsblawg/2006/01/are_big_firm_la.html
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5254661) |
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Date: March 5th, 2006 4:54 PM Author: Sadistic point
NALP:
"Attorneys are eligible for partnership 6 years from graduation provided they have been with the firm for a minimum of 3 years."
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5254714) |
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Date: March 5th, 2006 6:10 PM Author: stimulating misanthropic theater stage
I suppose I could have just taken your word for it, but...
They just named 4 partners. Two of them graduated in 1999. That's 6 years (not to mention that one of those 6 was spent clerking, so in reality it was 5). The other two graduated in 1997, though one of them only moved to Quinn in 2001, and the other also clerked.
Last year's associates elected to partnership had been with the firm 5,6, and 7 years.
Also, they have practically a 1-1 associate to partner ratio.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5255371) |
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Date: March 5th, 2006 6:31 PM Author: concupiscible cuckold property Subject: You are high ...
They have non-equity partners. The partnership ratio you mention is meaningless. If you think they have a 1:1 ratio and the avg. of those partners is $1.9 million, you are a complete idiot.
I knew someone who left Quinn as a young "partner" to become an associate at another firm. It's much less than meets the eye ...
Believe what you want to believe.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5255585) |
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Date: March 5th, 2006 6:50 PM Author: stimulating misanthropic theater stage
I'm pretty sure every LA firm has non equity partners. Quinn has onlly about 70 partners of either stripe firmwide. What is it you're contending? Is it that the equity partners are averaging much more than $1.9 million, because that hardly seems damning, either. Quinn's associate compensation is higher than all but Munger and Irell in LA, as well.
Really, you're just talking out of your ass, and it's wholly unnecessary as I do not work at that firm.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5255787) |
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Date: April 18th, 2006 12:43 PM Author: concupiscible cuckold property
PPP figures do not include non equity partners. $1.9 million seems high, given the partnership ratio you cited. You need more leverage to make money than that. At 2000 hrs a year (higher than the likely average of all partners and associates) and $500 an hour (higher than the avg billing rate of all partners and associates), you only have $1.0 million in REVENUE, never mind PROFIT. Now, Quinn can increase this somewhat by doing contingency work, which I have heard they have done with some success. But it is hard to imagine $1.9 million in profits, without more leverage.
Most firms have a few non-equity partners. Typically they are either new partners up for equity partnership in a couple of years (Kirkland, etc.) or old partners who are "past their prime" (many other large firms). But it is particularly common at mid-sized firms to have more non-equity partners, a permanent underclass of partners who do not get paid nearly as much and who work for a salary.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5604295)
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Date: April 18th, 2006 12:48 PM Author: stimulating misanthropic theater stage
Quinn's leverage is about 2:1 associate:partner.
And yes, they do contingency work, and have generated a lot of revenue doing so. Yes, MOST firms have non-equity partners. Quinn doesn't. It's really quite simple. You're either lying, or you were misinformed.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5604320) |
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Date: March 7th, 2006 1:09 PM Author: stimulating misanthropic theater stage
I've looked into this, and it seems you may be even more full of shit than I imagined. Show me proof that Quinn has a two-tier partnership system.
As of July, 2004 this was not the case:
"Like many of the most profitable firms, Patterson Belknap has only one partnership tier. Many firms try to boost their per-partner profits by creating multiple partner tiers, excluding all but the inner circle from sharing in the profits. But some of the most profitable firms tend not to rely on this trick. Four of the seven firms on the millionaires list have one-tier partnerships. Boies Schiller; Kramer Levin; and Jeffer Mangels are the exceptions."
http://www.law.com/jsp/article.jsp?id=1090180181411
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5271479)
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Date: April 18th, 2006 12:26 PM Author: stimulating misanthropic theater stage
There is only one partnership tier.
www.nalpdirectory.com
You sir, are full of shit.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5604232) |
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Date: April 18th, 2006 12:39 PM Author: stimulating misanthropic theater stage
You're going to continue with this? You said:
"It typically takes much longer than 6 years or doesn't happen at all. Also, they have non-equity partners."
Both of these statements have been shown to be false.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5604279)
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Date: May 3rd, 2006 4:49 PM Author: racy jet native regret
you are entirely wrong
(but i would just add that a relatively low-paid partner is effectively the same thing as a "non-equity partner," except that the non-equity partner doesn't have the privilege of paying a buy-in or buying his own health insurance. still, quinn unequivocally does not have anyone with the title "non-equity partner," or any equivalent)
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5707665) |
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Date: May 3rd, 2006 4:53 PM Author: racy jet native regret
"I knew someone who left Quinn as a young "partner" to become an associate at another firm. It's much less than meets the eye"
this is a true statement; apparently we both know him. for the sake of completeness, you might mention that he was made a partner after his third year at quinn.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5707695) |
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Date: March 6th, 2006 12:22 AM Author: spruce violent space
Leverage stats (from AmLaw July 2005)
Associates:equity partners = leverage
Hint: higher leverage means PPP is inflated cause there are fewer partners divvying up all the revenue. PPP is not a meaningful stat in my point of view unless you take this data into account.
Cadwalader: 406:78 = 5.21 (the MOTHER plantation)
Weil: 896:184 = 4.87 (filthy)
Kirkland: 730 :167 = 4.37 (shameful)
Cleary: 676:168 = 4.02 (shocker)
Schulte: 283:71 = 3.99
Cravath: 310:79 = 3.92 (kind of embarrassing)
Sidley: 1103:302 = 3.65
Paul Weiss: 377:103 = 3.66
Dewey: 410:114 = 3.6
S&S: 756:207 = 3.65
Milbank: 373:107 = 3.49
Skadden: 1,193:361 = 3.3
Debevoise: 411:125 = 3.29
STB: 480:152 = 3.16
Willkie: 383:124 = 3.09
OMM: 679:231 = 2.94
Latham: 1115:387 = 2.88
S&C: 433 :156 = 2.78
Davis Polk: 393:145 = 2.71
Fried Frank: 314:124 = 2.53
Gibson: 500:245 = 2.04
Wachtell: 117: 80 = 1.46 (Heroes of near parity)
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5259623)
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Date: March 6th, 2006 12:28 AM Author: boyish free-loading theatre mood
Munger has more partners than associates.
Not including non-equity partners makes sense for looking at leverage from a financial perspective, but from the perspective of an associate, I think they should be included. Non-equity partners can have their own clients and manage their own caseloads, and the associate that's doing the work doesn't care how much money the partner is making.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5259688) |
Date: March 5th, 2006 4:55 PM Author: Orange hall boltzmann
LA is awesome. Bay Area offices just don't seem that powerful.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5254725) |
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Date: March 6th, 2006 1:21 PM Author: Drab Spot
"significantly greater chance of becoming partner."
Proof of that?
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5262337) |
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Date: March 6th, 2006 5:44 PM Author: spruce violent space
when did Dechert get internet?
If you saw the people from my school that consider Dechert (outside of Philly) then you wouldn't question for a second why we'd all rather go to Shearman, Weil, etc. than work our asses off to end up sharing office space with the bottom 1/8th of the class.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5264861) |
Date: March 5th, 2006 5:25 PM Author: chocolate insanely creepy sanctuary
How is Cadwalader Pwning so bad?
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5254986) |
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Date: March 5th, 2006 6:32 PM Author: Tripping Crusty Mexican Laser Beams Subject: I really think it's because they own their own building...
think about how much that saves them in terms of Costs Per Partner... take that away and I'd imagine them closer to Dewey.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5255592)
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Date: March 7th, 2006 12:33 PM Author: boyish free-loading theatre mood
It does, but here's a possible explanation (towards the end of the comments):
"I don't know that "rumor" you are referring to, but Citibank long ago courted law firms for banking business and began to collect data for peer comparisons on a variety of economic measures. No one has the breadth of data that Citibank has. The data are presented without the names of other firms but you can tell roughly who is in your peer group and discussions may provide other hints. Firms that want continued access to the data have an incentive to keep doing business with Citibank. So the service is a good "binder" for Citibank."
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5271221) |
Date: March 5th, 2006 6:20 PM Author: multi-colored abode
every time i see the letter 'p' i think of PLAYBOY!!! in fact i accidentally saw sesame street with the letter 'p' and i had an instant boner. plus the mexican lady was hot and i thought 'please pose for PLAYBOY mexican lady!!!!!!!!!!!!"
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5255478) |
Date: March 5th, 2006 11:49 PM Author: Sepia Bull Headed Mad Cow Disease
KIRKLAND & ELLIS topped a bill for the first time ever!! Lets see even bigger bonuses next year!
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5259279) |
Date: March 6th, 2006 1:53 PM Author: puce resort
Hazelrah, you seriously are amazing at keeping us up-to-date with law firm information. It's been said before, but thank you for all the work you do on this.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5262601) |
Date: March 6th, 2006 1:55 PM Author: glittery school
Gibson should go up next year, what with all the money they're saving on summer associate salaries.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5262619) |
Date: March 6th, 2006 1:57 PM Author: lemon rebellious senate
cahill is missing from your list, they are always in the top 3 or 4 in PPP
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5262631) |
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Date: March 6th, 2006 2:32 PM Author: boyish free-loading theatre mood
Yeah, sorry I should have made it clear it's not complete yet. Cahill hasn't announced anything as far as I know, but do contribute a link if you hear about it.
EDIT: Added a line in the OP clarifying this.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5262864) |
Date: March 7th, 2006 12:19 PM Author: 180 hyperactive nursing home
Question: Is PPP calculated based on equity partners only or does it include nonequity partners?
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5271127) |
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Date: March 7th, 2006 12:23 PM Author: 180 hyperactive nursing home
Also, last year Greenberg reported close to 1 million. The OP indicates that they went up by 20%, but the PPP in the OP is less than the PPP for last year. Why?
EDIT: Nevermind, the link below makes it clear. Total Revenue was used in the OP, which was 860 million. The link says NA for PPP and $985k for PPP in 2004.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5271143) |
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Date: March 7th, 2006 12:27 PM Author: boyish free-loading theatre mood
Sorry, I misread the article on Greenberg and used their revenue figure ($860m), which is +21% from last year. They haven't announced their PPP yet.
I removed it from the list, thanks for catching this.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5271167) |
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Date: March 7th, 2006 12:38 PM Author: 180 hyperactive nursing home
Thanks. PEP makes sense because nonequity partners are not as directly affected by profitability. On the other hand, please see my post in the other thread for a criticism of relying solely on PEP.
http://www.xoxohth.com/thread.php?thread_id=374503&mc=6&forum_id=2
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5271261) |
Date: March 9th, 2006 1:57 AM Author: beta vigorous crackhouse idea he suggested
Thanks a lot Hazelrah. You and a few other posters are what makes it worthwhile to come to this board.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5288294)
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Date: March 24th, 2006 1:56 PM Author: Floppy gay personal credit line
Does anyone know how PPP translates on a geographical basis? I.E. In a multi-office firm, do the NYC partners take home the same $$$ as the Atlanta partners and the LA partners?
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5415602) |
Date: March 24th, 2006 4:32 PM Author: adulterous low-t nibblets Subject: Debevoise is wrong, I believe.
I'm fairly sure Debevoise PPP in 2005 was 1.67 million.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5416760) |
Date: April 8th, 2006 1:54 PM Author: boyish free-loading theatre mood
Added Sonnenschein, made some slight edits to Quinn and Manatt. Source is 3/13/06 L.A. Bus. J. 1 on Westlaw.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5541775) |
Date: April 24th, 2006 12:23 AM Author: boyish free-loading theatre mood
Adding Gunderson Dettmer based on a December 2005 AmLaw article, mentioned here http://www.law.com/jsp/article.jsp?id=1145621801037
That figure might be for 2004, but we'll probably never know since they don't officially disclose their financials.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5639466) |
Date: May 2nd, 2006 1:29 PM Author: boyish free-loading theatre mood
Updated the top 15 with the AmLaw numbers posted here: http://www.xoxohth.com/thread.php?thread_id=409460&mc=10&forum_id=2
Also I added Irell, and Paul Hastings numbers for total (equity/nonequity) partners. Source is 2/15/06 issue of the Recorder, sorry I missed it the first time.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5700368) |
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Date: May 2nd, 2006 1:30 PM Author: boyish free-loading theatre mood
Might as well post that Recorder article (it's on Westlaw at 2/15/2006 RECORDER-SF 2)
FIRM THAT LED SALARY RAISE RACE SAW REVENUE, PROFIT DIP IN '05
Kellie Schmitt
Recorder Staff Writer
LOS ANGELES - Unlike most of the California firms that have raised associate salaries, the firm that started it back in September - L.A.-based Irell & Manella - saw revenue and profits dip in 2005, according to figures provided by the firm Tuesday.
The 200-lawyer firm said revenue declined 4 percent to $191 million. Profits per partner dropped 3 percent to $1.5 million.
Irell and Paul, Hastings, Janofsky & Walker are the last of the major L.A. firms to report financial results.
At Paul, Hastings, revenue was up 10 percent to $667 million, while profits per equity partner were up 13 percent, at $1.3 million. Average partner compensation - which includes pay for nonequity partners - was $1.2 million.
'Our growth was fueled by across-the-board excellence and the benefits of an investment in a global platform,' Chairman Seth Zachary said. 'We've seen tremendous growth in serving clients internationally.'
The firm's Asia practice kicked in work on a $1.3 billion global offering for COSCO, a Chinese shipping company, and represented GZI REIT, a $216 million real estate investment trust, in its listing on the Hong Kong Stock Exchange. There was also increased growth in work for Citigroup internationally.
In 2005, the firm added 16 lateral partners and opened new offices in Milan and Palo Alto.
The overall equity partnership dropped 6 percent to 191, a decrease Zachary attributes to retirements, and partners going part-time, which results in nonequity status. Many of the California firms that have reported earnings in the past month saw similar contractions of the equity ranks.
Irell Managing Partner David Siegel said his firm was pleased to be able to hold on to the gains it's seen in recent years. In 2004, Irell saw a 32 percent increase in profits per partner from the prior year, on a 13 percent jump in gross revenue.
2005 was a 'catch our breath period after those significant increases,' he said. 'We can't report 30 percent growth every year.'
The 2004 boost was partially a one-time result of improving collection and billing capabilities, he said. And while the firm significantly increased its contingency work in 2005, some of those possible pay-offs are yet to come, Siegel said.
'It was by any measure a good year,' he said. 'We'd like to see double digit growth continue but that's maybe too much to ask.'
Even with revenue per lawyer flat in 2005, Irell's $955,000 is second only to Gibson, Dunn. Irell's average partner compensation - it has no nonequity partners - is higher than all but three California firms.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5700373) |
Date: May 3rd, 2006 4:35 PM Author: boyish free-loading theatre mood
Updated with AmLaw 100 numbers. It's on Westlaw at 5/2006 AMLAW 1. Let me know if there's any typos, additions, etc.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5707570) |
Date: May 3rd, 2006 4:59 PM Author: boyish free-loading theatre mood
Updated again with PPP including nonequity partners. Also on Westlaw.
And yes, that's $1.160m for Kirkland. They have 192 equity partners and 242 nonequity partners.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#5707735) |
Date: November 14th, 2006 10:25 PM Author: Plum Exciting Center
what exactly is the significance of the assoc/partner ratio for associates?
It seems like the more associates/partner a firm has, the higher its PPP is. This makes sense: if there are few partners and lots of associates to bill out, all the revenue generated by the associate billing gets split up amongst fewer partners.
But what does this mean for associates? Lower partnership prospects? This doesn't seem like too bad of a thing in big NYC firms, since partnership prospects are so low to begin with. Some people have told me it's bad bc they run the associates like members of an assembly line, i.e. the higher the ratio, the more likely it is incoming associates will be forced into doing one highly specific task and won't get to move around, get more generalized knowledge. Is this really the worst consequence of a high assoc/partner ratio? Isn't this really the case at most of these big firms, regardless of the ratio?
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#6993460) |
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Date: November 14th, 2006 10:50 PM Author: boyish free-loading theatre mood
Somebody posted this earlier, but Skadden averages aren't that high. Also they have a minimum of 1600 hours to get the bonus, and not everybody meets it. I think it's a lot easier to get away with that at Skadden than at Irell.
EDIT: Skadden NY average is 2200. http://www.xoxohth.com/thread.php?thread_id=516777&forum_id=2#6896887
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#6993723) |
Date: November 14th, 2006 11:10 PM Author: Alcoholic Halford
good stuff the first time around, even more useful now. thanks. bonuses should be great everywhere this year.
Gunderson rocks!
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#6993913) |
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Date: November 15th, 2006 10:15 AM Author: Alcoholic Halford
well, according to their management it was actually very good last year, higher than most CA firms. they could be full of it, of course, but associates seemed happy
also, found out that their investment fund you mentioned (i think) is their alternative to 401k matching...they put a bit of money for each associate into certain clients every year
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#6996128) |
Date: November 15th, 2006 10:31 AM Author: Electric office
Anymore updates?
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#6996164) |
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Date: November 15th, 2006 10:35 AM Author: Contagious grizzly gas station french chef
I just took a shit.
Consider yourself informed.
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#6996178) |
Date: November 15th, 2006 2:16 PM Author: Electric office
How big of a role should PPP play into our decisions? Not very much, right?
(http://www.autoadmit.com/thread.php?thread_id=373243&forum_id=2#6997557) |
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