Revenue Per Lawyer Drops 3 Percent at Global 100 Law Firms
Posted Sep 30, 2009 8:53 AM CDT
By Debra Cassens Weiss
Wachtell, Lipton, Rosen & Katz is the law firm with the highest profits per partner, while Linklaters is the law firm with the highest gross revenues.
The firms topped two American Lawyer charts examining the finances of Global 100 law firms. Profits per partner were about $4 million at Wachtell, while gross revenue at Linklaters was $2.4 billion. The results represent a fall for Clifford Chance, which had the top spot for gross revenue for eight years and is now in third place, the Am Law Daily reported in August.
Overall, Global 100 law firms were able to increase gross revenue by 2 percent. “The real story is in revenue per lawyer, though, which is down 3 percent,” the American Lawyer reports. Some firms also saw big drops in profits per partner, including Clifford Chance, where the decline was 41 percent, and Latham & Watkins, were the drop was 20.5 percent, the American Lawyer reports in a separate story.
1) Linklaters, with $2.407 billion in gross revenue.
2) Freshfields Bruckhaus Deringer, with $2.386 billion in gross revenue.
3) Clifford Chance, with $2.34 billion in gross revenue.
4) Skadden, Arps, Slate, Meagher & Flom, with $2.2 billion in gross revenue.
5) Baker & McKenzie, with $2.112 billion in gross revenue.
The top five firms, in terms of profits per equity partner, are:
1) Wachtell, Lipton, Rosen & Katz, with $4.010 million in profits per equity partner.
2) Quinn Emanuel Urquhart Oliver & Hedges, with $3.335 million in PEP.
3) Sullivan & Cromwell, with $2.94 million in PEP.
4) Slaughter & May, with $2.855 million in PEP.
5) Freshfields Bruckhaus Deringer, with $2.675 million in PEP.