This Wall Street Journal ($) article reports on the annual American Lawyer review of law firm finances, which found that America’s richest law firms got even richer last year.
New York City based Wachtell, Lipton, Rosen & Katz topped the list with average profits per partner of $2.58 million. Other New York firms, helped by the Wall Street recovery, dominated — claiming 13 of the top 15 spots.
Strong revenue growth generated a 9.8% increase in average profit per equity partner to $930,700. Nonequity partners made an average $357,597 per partner.