Sentences with phrase «as profits per partner»

[48] Finally, statistical rankings generally cover profit - related data such as profits per partner and revenue per lawyer.

Not exact matches

After what the firm described as a «solid» 2016, Reed Smith held profits per equity partner (PEP) and revenue per lawyer (RPL) steady amid declines in headcount and overall revenue.

White & Case and King & Spalding have both reported a rise in profit per equity partner (PEP) as K&L Gates reported a slight dip.

Bond Dickinson's average profit per equity partner (PEP) has dropped 4 % from # 275,000 to # 265,000, as turnover remained flat at # 104m for 2016 - 17.

As for «profits per partner,» the metric that matters most to firms, nineteen firms had profits per partner of $ 2 million or more, an increase of four over last year.

The profits - per - partner numbers for Canada's big firms are not widely available in the same way as those of Americans (AmLaw 200) and U.K. (U.K. 200) lawyers, and — so I've been told — are not as high.

Big law sees «agile» as a means of driving up their profit per partner.

Thus the dual LawLand trends of lateral movement fed by lack of alliegiance to the institution as well as mergers to create ever larger hotels feds the inherent structural instabiliy percolating just below the surface hidden by stories of improving firm performance and profits per partner.

Profits per equity partner grow by 5.4 % as equity partner numbers shrink by double digits

Yet law firms persist in using another type of PEP (profits per equity partner) as a measure of success.

Braithwaite has overseen a solid period of growth during his ten - year tenure as managing partner with the firm recording a 14 % rise in average profits per equity partner last year to hit # 366,000, with the firm's fee income standing at # 56m.

Linklaters grew its revenue to # 1.31 bn in the last financial year as profit per equity partner (PEP) rose to # 1.45 m.

Even opponents to using profit per equity partner (PEP) as a measure of law firm success would struggle to contend that a firm posting a 19 % year - on - year fall in profit was in anything other than a challenging position.

As explained by David Maister in his seminal book (Managing the Professional Service Firm, Free Press Paperbacks, 1993), «it is only by understanding the profit per partner of different practices, services (and even engagements) that the firm can manage its «equity investments» (partner time) wisely.»

Succession was assured so long as younger talent had a reasonable shot at one day grasping the golden reins of power (e.g. partaking of profit - per - partner.

Ever since large law firm salaries for new associates jumped to $ 160,000 back in January, we've heard commentary from a variety of constituencies, ranging from (see this post) law firm recruiters, warning that increased billables will place more pressure on associates, to lawyers, arguing that increased salaries demand concommitant salary raises for the judiciary, to (see this post) law firm economists, suggesting that associate salaries are proportionately lower than ever when viewed in the context of their relationship to profits per partner, to law firm marketers who view increased rates as opening opportunities for less expensive, midsized firms.

Cooley sees revenue climb 19 % as Mayer Brown posts 7 % rise to $ 1.2 bn, with profit per equity partner increasing 13 % to $ 1.44 m

Herbert Smith Freehills (HSF) has posted an 8 % rise in profit per equity partner (PEP) in 2014 - 15 as its revenue also increased.

As one of the fastest growing areas and increasingly lucrative areas of legal practice, it explains why some of the world's most profitable firms — Kirkland and Ellis (annual profits per partner $ 4.1 m), Quinn Emanuel ($ 5m), and Slaughter and May ($ 3.6 m)-- are now taking a slice of the available pie.

Braithwaite has overseen a solid period of growth during his tenure as managing partner with the firm recording a 14 % rise in average profits per equity partner last year to hit # 366,000, with the firm's fee income standing at # 56m.

Macfarlanes has posted a 16.7 % fall in profit per equity partner (PEP) in the last financial year as net profit for the firm fell 8.9 %.

Eversheds has announced a 6.5 % rise in revenue in the 2015 - 16 financial year as the firm's profit per equity partner (PEP) remained broadly static.

Profits per equity partner (PPEP) goes up, partner headcount goes down, median partner income falls, the ratio of partners making as much as PPEP falls.

Simmons & Simmons has posted a 10 % drop in profit per equity partner (PEP) for the 2015 - 16 financial year to # 585,000, as the firms costs rose «significantly».

Dentons has opted to stop reporting average profits per equity partner, citing the metric as «meaningless» for a global firm, and claiming it could be potentially damaging to client relations.

As competition increases, law firms are trying to maintain and grow profits per partner with smaller partnerships.

In this period the firm's revenue and profits have jumped by 40 %, with the journey capped last summer as profit per equity partner surpassed the # 1 million mark for the first time.

Law firms whose economic model is based on maximizing billable hours rather than efficiency, who limit (or shrink) the number of partners in order to maximize profits per partner, and who equate «face time» with commitment and loyalty, scoff at younger lawyers as being naïve and unrealistic.

As a result, the firm's average profits per partner were essentially flat at $ 2.08 million.

K&L Gates saw its gross revenue rise less than 1 percent and its profits per partner fall 4.3 percent in 2011 amid what chairman Peter Kalis described as a year when expenses grew at a faster rate than revenue, according to sibling publication The Legal Intelligencer.

As a result of the shrinkage, the firm's revenue - per - lawyer jumped 15 percent, to $ 1.2 million, while profits per equity partner increased 11 percent, to $ 1.35 million.

Though it posted new records in net income, revenue per lawyer, and profits per partner, Bingham McCutchen saw its 15 - year topline growth streak end in 2011 as gross revenue fell 0.5 percent to $ 868.5 million, according to reporting by The American Lawyer.

2010 average profits per equity partner should have been $ 980,000, not $ 1,605,000 as reported by the firm last year.

As we've reported before, profits per partner at Howrey dropped 35 percent, to about $ 846,000 in 2009.

Although not mentioned as a reason for the current wave of departures, Howrey has recently suffered from poor profitability; last year, profits per partner plunged 35 percent firmwide.

As for other key financial metrics, the firm's overall attorney head count decreased by 1.8 percent, or five lawyers, its revenue per lawyer jumped 5.8 percent to $ 640,000, and its profits per partner rose 3.8 percent to $ 680,000.

The importance of leading the local market on trainee and junior lawyer salaries will have to be balanced with the fact that Burges Salmon has been feeling a bit more pressure of late amid a small decline in revenue from # 87.4 million to # 87 million and a 16 % drop in profit per equity partner from # 523,000 to # 438,000 in what managing partner Peter Morris has described as a «challenging» financial year.

Second, you must give up as your primary business plan the effort to appear at the top of the American Lawyer's profits - per - partner list.

If a project succeeds in increasing value to clients by delivering better or equal quality service for less cost, the payout, as it were, means less profit - per - partner (at least under a billable hour model).

Wells Fargo's Jeffrey Grossman continues: «In past years, the high - profit firms — which the bank identifies as firms posting $ 2 million in profit per equity partner or higher — have mostly bucked the wider trend of falling hours that has plagued their less - profitable peers.

As one managing partner pointed out to me, «reputation» in Big Law may include AmLaw rankings in terms of profit - per - partner, which is an unusual way to attract clients in most business sectors.

I recently had a discussion (OK an argument) over which was the better benchmark for firms to manage by, profits per equity partner versus net income as a percentage of revenue.

• Profit per partner: 15 per cent (note, the move away from this metric should be seen as a very positive development)

The most salient differences are that network members — unlike their firm counterparts — lack singular, unified brands, funding to compete with brand development, an economic incentive to retain as much work as possible within the firm, and a partnership structure where profit - per - partner (PPP) trumps all.

The American system of licensing attorneys on a state - by - state basis, the tradition of having a headquarters in a single U.S. state and a close focus on profits per partner (as opposed to sheer scale) has to date limited the size of most American law firms.

As for Winston's overall finances, the firm's gross revenue grew 5.2 percent to $ 754 million last year, while average profits per equity partner jumped 4 percent to $ 1.44 million.

Small law firms saw profits per equity partner fall 24 % as the recession hit, according to the Law Society Law Management Section's annual profitability survey.

Charles Russell Speechlys has reported a 23 % jump in profit per equity partner (PEP) in its first full financial year results following the merger of legacy firms Charles Russell and Speechly Bircham, as Trowers & Hamlins reported flat net profit.

Here, management figures at some of the UK's top law firms discuss the key trends from 2015 - 16, including consolidation, job cuts, artificial intelligence and profit per equity partner (PEP)-- as well as the most pressing challenges for the year ahead.

Weightmans has boosted profit per equity partner (PEP) by 18.5 % as revenues hold steady, following a financial year that saw failed merger talks with Newcastle - based Ward Hadaway.