Wachtell, Lipton, Rosen & Katz continues to lead our value per lawyer rankings. The firm has held the top spot since the metric’s inception nine years ago. Value per lawyer ranks firms by how efficiently they generate profits. A firm’s value per lawyer is its compensation–all partners divided by its lawyer count.

The metric is intended to calculate how much, on average, each of a firm’s lawyers contributes to total partner compensation. We express it two ways: as a dollar amount and as the number of lawyers needed to generate $10 million in partner compensation. At Wachtell, for instance, each lawyer contributes an average of $1.6 million to partner compensation, and it takes an average of six lawyers to generate $10 million. For more details, ­see “A Guide to Our Methodology.”