The most prestigious law school admissions discussion board in the world.
|
 |
 
|
2024 Law Firm Financials
Poast new message in this thread
Date: January 30th, 2025 10:49 AM Author: MisterX Firm Revenue RPL PPP Lawyers Steptoe $530m(7.5%) $1.23m(3%) $2.1m(5%) 428(4%) |
Date: January 30th, 2025 10:49 AM Author: MisterX Subject: Steptoe Washington, D.C.-based Steptoe saw gross revenue rise by 7.5% to $530 million last year, while profits per equity partner rose nearly 5% to $2.1 million, both records for the firm, according to preliminary financial reporting by The American Lawyer.
Even with a head count boost, Steptoe's revenue per lawyer grew by about 3% to $1.23 million. In all, the firm's head count rose a little over 4% to 428 lawyers.
https://www.law.com/nationallawjournal/2025/01/29/steptoe-grows-revenue-75-hitting-record-high-530-million/ |
 |
Date: January 30th, 2025 11:07 AM Author: ~~(> ' ' )> I haven't followed this stuff closely in years, but I would have guessed RPL would be even higher by now. (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48605364) |
|
Date: January 30th, 2025 11:07 AM Author: COMES NOW me in ur mom ((zurich is stained)) do bakerhostetler pls (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48605367) |
|
Date: January 30th, 2025 11:21 AM Author: Prolemobiler cant believe they still do this shit. if i were a managing partner on day one i would send an email saying "if you leak our finances you will be immediately fired" to everyone at the firm. (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48605415) |
|
Date: January 30th, 2025 11:36 AM Author: COMES NOW me in ur mom ((zurich is stained)) these firms release the info willingly. for some reason they think this reflects well on the firm. i can't figure out why. when i was at BH, they were constantly gaming the system to get PPP up. not sure why clients give a single fuck about that, and actually couldn't it work against you? do you really want your clients seeing that each partner is making 2 million or whatever?
only reason i can see for doing this is trying to impress 0Ls, 95% of whom will never be affected by the firm's PPP (but are too delusional to realize this). |
|
Date: January 30th, 2025 12:50 PM Author: Bronus Swagner Probably trying to attract lateral partners (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48605905) |
|
Date: January 30th, 2025 1:43 PM Author: COMES NOW me in ur mom ((zurich is stained)) i dunno if that would be effective. anyone knows these numbers are gamed, and your comp is gonna depend on your book no matter what. (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48606260) |
|
Date: February 3rd, 2025 12:08 PM Author: ~~(> ' ' )> Anyone know of any federal cases where biglol partnership agreements are part of the public record and accessible on ECF? (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48617949) |
|
Date: February 3rd, 2025 2:19 PM Author: COMES NOW me in ur mom ((zurich is stained)) no but i can tell you what i remember of my bakerhostetler partnership agreement.
which is that it has a 60-day notice of resignation period. other than that i remember nothing. |
|
Date: February 3rd, 2025 5:32 PM Author: ~~(> ' ' )> How was your equity buy-in structured? (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48619012) |
|
Date: February 3rd, 2025 5:36 PM Author: COMES NOW me in ur mom ((zurich is stained)) $30k, they take out $10k from my yearly payout. i guess if i get moar shares i'll have to contribute moar.
but i may never get there bc i am weighing offers to jump to another firm (as a nonequity and likely for a bit less money, but trust me i have good reasons). |
|
Date: February 3rd, 2025 5:39 PM Author: ~~(> ' ' )> Only $30k? Seriously? Interesting.
I've represented parties in cases involving small firms through the lower part of Amlaw 200. I haven't seen anything close to that low. |
|
Date: February 3rd, 2025 5:40 PM Author: COMES NOW me in ur mom ((zurich is stained)) yea, i am in the lowest equity tier (750 shares). that was 30 grand. my comp this year was $468k (i miscalculated what it was supposed to be and thought it was going to be either just under or just over 500).
if i stay, i'll be bumped up either 50 or 100 shares. i had a really strong year. |
|
Date: February 3rd, 2025 5:49 PM Author: ~~(> ' ' )> I would have guessed more like $150k. (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48619055) |
|
Date: February 3rd, 2025 5:55 PM Author: COMES NOW me in ur mom ((zurich is stained)) this firm deequitizes people like it's going out of style tho. (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48619071) |
|
Date: February 3rd, 2025 5:35 PM Author: Prolemobiler lol how many days notice did you end up giving? (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48619020) |
|
Date: February 3rd, 2025 5:37 PM Author: COMES NOW me in ur mom ((zurich is stained)) at BH? they cut me loose after like 3 weeks.
i've poasted this before, but leaving there was the single career blunder i've made, and it was a big one. i really regret it. my comp there was way off, but they'd have fixed it and probably paid me $100k to stay. but what are you gonna do. and when i say my comp was off, it was in the 300s, which is insane for an actual biglaw firm (which BH is, but just barely) to be paying a partner in their DC office. that said, i had zero originations and most of that time i was a drunk coke addict. |
|
Date: February 3rd, 2025 5:48 PM Author: Prolemobiler lol i cant tell if youre flame or not. you have to be a former associate who is running schtick right (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48619053) |
|
Date: February 3rd, 2025 5:51 PM Author: COMES NOW me in ur mom ((zurich is stained)) nope, this is 100% true.
i got pigeonholed as a service partner for this dood with a massive book who never shared credit, so i guess that was my problem. when i quit, i took $1 million of his book so lol at him.
i left in 2022 and my estimated comp for that year was 350 or 360 (it usually came in a bit higher bc 10% of my pay was equity). my life was unraveling at the time and while i always got good results for clients, i paid zero attention to my hours and did no biz dev. i think i billed like 1600 in 2021. |
|
Date: February 3rd, 2025 5:52 PM Author: Prolemobiler oh ok so youre not there anymore. i mightve misread your above poasts. (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48619064) |
|
Date: February 3rd, 2025 5:55 PM Author: COMES NOW me in ur mom ((zurich is stained)) nah im at a midlaw firm (confusingly a "baker" firm). i do wish i'd stayed tho, they woulda bumped me to $450 to stay, i'm sure, and the rainmaker should be retiring in a year or two (hes like 71 now) and i'd inherit around $2 mil.
but live and learn i guess. it wasn't all bad that i left bc i had to think about building a book, which i've kinda been able to do. |
|
Date: February 3rd, 2025 5:56 PM Author: Prolemobiler yeah "biglaw" seems like a garbage industry lmao (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48619074) |
|
Date: January 30th, 2025 1:00 PM Author: Drunkard RPL is key. PPP can be gamed. Can’t really game RPL. There should be profits per lawyer, but you can back into it. (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48605986) |
|
Date: February 3rd, 2025 5:39 PM Author: Autoadmit.com do firms even attempt to do FTE calcs or do they just do headcount at the end of year? (http://www.autoadmit.com/thread.php?thread_id=5672873&forum_id=2#48619032) |