Profits Per Partner
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Bankruptcy, Biglaw, Dewey & LeBoeuf, Dewey Ballantine, Dissolution, JPMorgan Chase, King & Spalding, Kramer Levin, Lateral Moves, LeBoeuf Lamb, Money, Partner Issues, Partner Profits
Dewey Partners Get Any Capital Back? Good Luck With That!(Plus more partner moves, including Ralph Ferrara.)
What will happen to the capital contributions of former Dewey partners? And on that subject, who are the latest defectors, and where are they going? -
Arnold & Porter, Biglaw, Fabulosity, Money, Partner Issues, Partner Profits, Rankings
The 2012 Am Law 100: Revenue and Profits Continue To Climb
Which firms had the biggest revenue and the highest profits per partner last year, according to the latest Am Law 100 rankings? - Sponsored
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
The rise of remote work has dramatically reshaped the relationship between Lawyers and Law Firms, see how Scale LLP has taken the steps to get… -
Arent Fox, Biglaw, Dewey & LeBoeuf, Lateral Moves, Money, Partner Issues, Partner Profits
Dewey Have A Problem With Defections? Or With Math?(Plus information on international offices.)
What's going on with Dewey defections? And restated financial results? And overseas offices?
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Biglaw, Husch Blackwell, Partner Issues, Partner Profits
Yes Virginia, Partners Get Demoted Too
We’ve heard many stories about partners without sufficient business quietly being "pushed out" or de-equitized. But we rarely see an entire group of partners publicly "demoted" en masse. Well, on Monday a Biglaw firm did just that… -
Associate Bonus Watch 2011, Biglaw, Bonuses, Money, Partner Issues, Partner Profits
Associate Bonus Watch: O'Melveny & Myers(And other OMM developments.)
How are things - including, but not limited to, associate bonuses - looking at O'Melveny & Myers? -
Associate Bonus Watch 2011, Biglaw, Bonuses, Money, Partner Issues, Partner Profits
Associate Bonus Watch: Paul Hastings
In terms of firm finances, Paul Hastings had a perfectly decent 2011. Revenue and profits were fairly stable; on the bright side, revenue per lawyer surpassed the $1 million mark for the first time. So how are those revenue-generating worker bees being compensated? Bonuses are out at Paul Hastings. How are PH associates reacting? -
Biglaw, Bonuses, Money, Partner Issues, Partner Profits
Show Them the Money: Where Are the Spring Bonuses?
Today is March 1. By this time last year, about a dozen firms had announced spring bonuses, as you can see from our prior coverage. This year? Crickets. What's going on? -
Biglaw, Layoffs, Partner Issues, Partner Profits, Secretaries / Administrative Assistants, Staff Layoffs
Staff Layoff Watch: Bingham McCutchen Makes Cuts
Are staff layoffs at large law firms on the upswing? Bingham McCutchen just announced some cuts. How many individuals were affected, and what was the rationale for the reductions? - Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so… -
Biglaw, Dewey & LeBoeuf, King & Spalding, Lateral Moves, Money, Partner Issues, Partner Profits
Where's LeBoeuf? An Update on Doings at Dewey
What's going down at Dewey? Some claim the firm is experiencing financial difficulties, and there have been some partner departures and reports of associate layoffs. But Dewey claims that it's really just business as usual over there. Let's tackle the question: Where's Le Boeuf? -
Biglaw, Celebrities, Crowell & Moring, Divorce Train Wrecks, Gay, Gay Marriage, Law Firm Names, Morning Docket, Murder, Partner Profits
Morning Docket: 02.09.12
* At least two firms probably won’t be handing out spring bonuses like candy this year. While gross revenue remained steady at Dickstein Shapiro and Crowell & Moring, PPP dropped at both firms. [Legal Times] * Not-so breaking news: the Thirteenth Amendment applies only to humans. It seems like the only people who didn’t already […]
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Biglaw, Bonuses, Money, Partner Issues, Partner Profits
Spring Bonuses? Anybody? The Silence Isn't Funny Anymore.
Last year, Sullivan & Cromwell announced spring bonuses on January 21st. Today is February 3rd. It might be time to panic. The conceit of this entire bonus season has been that the ridiculously low bonuses bar set by Cravath, Swaine & Moore was just an opening figure. People really didn't expect that Cravath would halve bonuses. Because really, it's CSM. They can count. Their profits went up. Why would they pay out 50% less than last year? Well, we guess the answer "because they can" is going to have to be enough for Biglaw associates everywhere.... -
American Bar Association / ABA, Associate Bonus Watch 2011, Bloomberg, Bonuses, Job Searches, Law Schools, Partner Issues, Partner Profits, Unemployment, Videos, YouTube
Is the Legal Recession Finally Ending?
At the start of this new year, what is the outlook like for legal employment? There's certainly a fair amount of bad news out there, particularly for recent law school graduates. But what about for denizens of Biglaw, the lawyers fortunate (or unfortunate) enough to work at the nation's largest law firms? What does 2012 hold for them? Earlier this month, Elie made some predictions for the legal profession. Lat will follow in his footsteps and venture some prophecies of his own for the year.... -
Biglaw, Crime, Gay, Money, Partner Issues, Partner Profits, Sentencing Law, Tax Law, Weirdness, White-Collar Crime
Former S&C Partner Gets Sentenced for Tax Offenses
Last August, John J. O'Brien, who was once a highly regarded and well-liked partner in the celebrated M&A practice of Sullivan & Cromwell, pleaded guilty to four misdemeanor tax offenses. In the end, he pleaded guilty to failing to file taxes relating to $9.2 million in partnership income, for tax years 2003 to 2008. Earlier this week, O'Brien was sentenced. So is O'Brien trading Biglaw for the Big House? And if so, how long a sentence did he receive?
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Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
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Biglaw, Books, Career Alternatives, Email Scandals, Kids, Litigators, Loyola Law School, Partner Issues, Partner Profits, Weirdness
A Farewell to Remember: One Partner's Dramatic Departure Memo
Every now and then, you'll come across a colorful farewell message penned by a partner. One such email, sent out last Friday by a longtime partner leaving a major law firm, is now making the rounds. Here's a teaser: "I have realized that I cannot simultaneously meet the demands of career and family. Without criticizing those who have chosen lucre over progeny, let me just say that I am leaving the practice of law." Wow. So who's the partner in question, which firm did he just leave with such flair, and what's he planning to do next? -
Akin Gump, Associate Bonus Watch 2011, Associate Salaries, Bonuses, Dewey & LeBoeuf, Ho-Love, Money, Partner Profits
Keeping Up With the Cravathians: The Ten Most Generous (or Foolish?) Law Firms
Cravath is among the most profitable firms in the world. We thought it would be interesting to see what the implications of matching Cravath are for those firms with much lower profit margins. Which firms’ partners willingly take the biggest hit by keeping up? Are these firms arguably more “generous”? After the jump, check out those firms that pay the largest percentage of PPP in bonuses.... -
Biglaw, Billable Hours, Bonuses, Money, Partner Profits
You Want Your Bonus? We Want Your Time Sheets.
As we all know from the law-and-economics reasoning that was taught to us in law school, people -- yes, this includes lawyers -- respond to incentives. At one leading law firm, bonus anxiety is being shrewdly harnessed in service of collections efforts. CHECK YOU TIME SHEETS.... -
Associate Salaries, Biglaw, Bonuses, Money, Partner Issues, Partner Profits
New York to $190K? Actually, It's About Time.
There's an interesting post up on Constitutional Daily by The Philadelphia Lawyer. It's a repack from a 2007 article arguing that salaries for first-year associates should go up to $190,000 a year. And he's right. Yet the associate salary scale hasn't seen a raise for almost five years. And bonuses are down compared to 2007. Is it time for firms to start sharing the wealth? -
Biglaw, Ho-Love, Hogan & Hartson, Lovells, Partner Issues, Partner Profits, Rankings
The Biggest Law Firms in the World: Meet the Global 100
Say hello to the Global 100 for 2011. This is the American Lawyer's list of the world's 100 largest law firms, ranked by total revenue. Lawyers are a competitive lot. So you're probably less interested in the overall figures than in how different firms fared in the rankings.... -
Biglaw, Partner Issues, Partner Profits
Are Biglaw PPP Stats Any More Reliable Than Law School Employment Stats?
The danger in having a for profit magazine in charge of collecting and publicizing critical information is that the magazine doesn’t have any oversight audit authority to confirm that its information is accurate. As we mentioned in Morning Docket, the big scandal of the day involved the Citi Private Bank Law Firm Group unit suggesting […] -
Biglaw, Celebrities, Crime, Legal Ethics, Lindsay Lohan, Money, Morning Docket, Music, Partner Profits, Pictures
Morning Docket: 08.22.11
* Unfortunately, it looks like law schools aren’t the only ones cooking the books. According to Citigroup, partner profits in the Am Law 100 may have been a teensy bit overstated last year. [Wall Street Journal] * A perp walk is a terrible thing to waste. Prosecutors may be dropping the charges against Dominique Strauss-Kahn […]