Sunday, December 23, 2018
Law.com, The Richest Law Firms Are Getting Even Richer:
The most profitable firms in the Am Law 200 are pulling away from the rest of the industry.
That’s the takeaway from an analysis of data gathered by ALM Intelligence going back to the year 2000. A look at the top 25 firms by profit per equity partner (PPEP) in this year’s Am Law 200 ranking reveals a wide and still growing gap in profitability between the upper crust and everybody else.
Why might that be the case? Probably because the industry’s most elite ranks—firms that include Latham & Watkins, Kirkland & Ellis, and Davis Polk & Wardell—have been mostly immune from pressures to cut their rates. They are sought after to do the most complex, valuable M&A deals and the riskiest litigation.