Skadden Joins Latham at Record $2B Revenue Level

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Skadden Joins Latham at Record $2B Revenue Level

Posted Feb 13, 2008, 01:43 pm CDT
By Martha Neil

Following swiftly on the heels of the news that total 2007 revenue for Latham & Watkins exceeded $2 billion, another major U.S. law firm has joined in the record-breaking announcement.

Skadden, Arps, Slate, Meagher & Flom also had gross revenue of more than $2 billion in 2007, reports the Lawyer. The two firms are the first ever in the U.S. to hit the $2 billion mark.

As discussed in an earlier ABAJournal.com post about Latham's 2007 earnings, the profit earned per equity partner at both firms isn't quite as breathtaking. Although well over $2 million (it was $2.28 million per equity partner at Skadden and $2.27 million at Latham, the Lawyer reports), other law firms have reported higher per-partner profit figures.

While the money is welcome, it isn't the only measure of BigLaw success, an unnamed Skadden "insider" tells the Lawyer: “Size isn’t our goal. It’s more important to be a meaningful player and to maintain a good profit margin.”

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Posted by rana muhamamd akram khan - 3 months, 15 hours, 10 minutes ago

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Posted by Not Yet - 2 months, 4 weeks, 1 day, 10 hours, 27 minutes ago

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