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Profitable firms are all alike; every unprofitable firm is unprofitable in its own way. Or is it the other way around? You can’t know for sure by looking only at the numbers. Did profits surge because the firm decimated its ranks of equity partners? Did they shoot up because of an enormous one-time fee? Did they rise because the firm dumped its expensive digs and moved into more modest offices? Making sense of the financials of the D.C. area’s most profitable law offices.
THE D.C. 20 Where Profits Are King From year to year a law firm’s revenue may rise and fall (or, more pleasantly, rise and rise), but the thing everybody’s paying attention to is how much ends up in partners’ pockets. The Charts: • Ranked by D.C. Revenue • Ranked by Profits Per Partner • Ranked by Revenue Per Lawyer The Profiles:Hogan & HartsonArnold & PorterDickstein Shapiro Morin & OshinskyWilmer Cutler PickeringCovington & BurlingSkadden, Arps, Slate, Meagher & FlomHowrey Simon Arnold & WhiteAkin Gump Strauss Hauer & FeldMorgan, Lewis & BockiusWilliams & ConnollyShaw PittmanMcDermott, Will & EmeryFinnegan, Henderson, Farabow, Garrett & DunnerLatham & WatkinsJones DaySteptoe & JohnsonSidley Austin Brown & WoodPatton BoggsWiley Rein & FieldingVenable SPECIAL REPORT ARTICLES What Price Profit? Law firm partners now make as much as $1 million a year, even as the economy struggles. Will that lead to a crash? How law firms can manage profits and prevent problems later on. Dear Clients, Show Us the Money It’s all about bringing in new work, right? Not if a law firm ignores one important element of profitability: collection. Letting invoices slip through the cracks can have disastrous results.

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