Noteworthy trends and newsmaking firms in this year’s Am Law 100. Francesca Heintz reports
Am Law 100 firms all have high gross revenues, but when it comes to translating that money into payouts for equity partners, the similarities end. Average profits per partner among the firms vary widely, from a low of $410,000 (£210,000) at Littler Mendelson to a high of $4.95m (£2.53m) at Wachtell Lipton Rosen & Katz. Likewise, there was plenty of disparity in firms’ rates of profit growth, ranging from an increase of 42% at Cooley Godward Kronish to a decline of 17.6% at Howrey. (For The Am Law 100 as a whole, average profits per partner were $1.3m (£664,000), an 8.7% increase from 2006.)
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