Partner Profits

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  • Partner Profits

    Profit Numbers Draw the Ire of Recently Laid Off Associates

    AmLaw Daily continues to provide firm by firm profit numbers, and attorneys continue to be annoyed with firm rhetoric against the backdrop of actual layoffs. The latest issue comes from associates formerly with Foley Hoag. Two weeks ago, we reported that Foley Hoag laid off 32 people, 17 associates and 15 staff. Yesterday, AmLaw reported […]
  • Partner Profits

    Cleary Gottlieb Profits

    We know what Cleary is doing for associate compensation: they are paying Cravath bonuses but have decided against freezing salaries. Is anybody interested in what the partners will be taking home this year? According to AmLaw: Gross revenue is up roughly 8 percent to $965 million; profits per partner increased about 12 percent to $2.4 […]
  • Partner Profits

    Cadwalader Profits Per Partner Down 30%

    When is a 30% decrease in profits per partner a good thing? When you still take home $1.88 million during the “worst financial crisis since the Great Depression.” This morning, AmLaw reported that Cadwalader Wickersham & Taft saw a 30% decrease in PPP, a 13% drop in revenue, … but is feeling pretty good heading […]
  • Biglaw, Partner Profits

    Non-Equity Partners, Trying to Hang On

    In today’s National Law Journal, Leigh Jones reports that non-equity partners at major law firms are also worried about the future. With all of the frightening career news floating around, it seems reasonable that either you are bringing in business, or you are terrified. The upshot is that some law firms — especially those that […]
  • Partner Profits

    New Simpson Thacher Partners: No Simpson Thacher Dealmakers

    A week ago we asked if new partner promotions were an indication law firm’s financial health. Skadden-Mart just released its new partner roster, and it does appear that the firm’s tepid bonus announcement is reflected in the new promotions. The New York Times reports that Skadden-Mart made five new greeters partners: Simpson’s latest class is […]