Sentences with phrase «profit per partner hour»

New financial metrics — including margin percentage, leverage, profit per partner hour and revenue per lawyer — deliver greater insight into matter profitability.

Not exact matches

I've seen the profession swing from the giddy, extravagant days of $ 1,000 / hour billing rates and $ 2 million profits per partner to its current morass of massive layoffs, pathetic efforts to stem the breach in the dike by cutting back on luxury toilet paper purchases and ABA bar dues and the growth of offshoring legal contract work to India.

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.

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.

We don't want lawyers who are seduced by the reliability of hours and profits per partner because that... [more]

Those competitors are at the threshold, and they don't care about billable hour targets or average profit per partner.

In 2008, though firm lawyers logged thousands of hours in hectic bail - out related work, especially in the last quarter, the firm's revenue was flat and average profits per equity partner fell 17 percent.