Average partner at Paul Weiss earns $3.85M; tops list of 17 financially outperforming firms
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Seventeen elite New York law firms outpaced other top law firms in 2014, with increases of 4.5 percent in average revenue, 5.6 percent in average profits per partner and 2.7 percent in revenue per lawyer.
Average revenue per lawyer was $1.2 million at these 17 firms, while average profits per partner was about $2.8 million, the Am Law Daily (sub. req.) reports. Paul Weiss had the highest profits per partner at $3.85 million.
The story also identified these firms with average profits per partner above $3 million in 2014: Cahill Gordon & Reindel ($3.62 million); Cleary Gottlieb Steen & Hamilton (breaking the $3 million mark); Cravath, Swaine & Moore ($3.37 million); Davis Polk & Wardwell ($3.29 million); Simpson Thacher & Bartlett ($3.485 million); and Sullivan & Cromwell ($3.68 million).
Experts told the Am Law Daily that the firms benefited from an increase in mergers and acquisitions, and capital markets work. Rate increases also boosted revenues.
