There is no 'silver bullet' metric for measuring the strength and performance of law firms. But profit margins may be a better guide than much-maligned, though closely followed, profits per equity partner (PEP). Average net profit margins at the top 50 firms by revenue – at least the ones that disclose full financial performance – have remained fairly stable over the past three years, rising from 25.8% in 2010-11 to 26.6% in 2011-12, before slipping back to 26.2% in 2012-13, according to Legal Week analysis.
September 19, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Stable profit margins prove lawyers are learning to be flexible as incomes fall, says Grant Murgatroyd
There is no ‘silver bullet’ metric for measuring the strength and performance of law firms. But profit margins may be a better guide than much-maligned, though closely followed, profits per equity partner (PEP).
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