UIDE UIDE UIDE UIDE. 10 th TO LEADING LAW FIRMS THE AM LAW 100/200 THE GLOBAL 100 THE A-LIST CORPORATE SCORECARD. Anniversary Edition

Transcription

1 UIDE TO LEADING LAW FIRMS THE AM LAW 100/200 THE GLOBAL 100 THE A-LIST CORPORATE SCORECARD 10 th Anniversary Edition UIDE 10 th ANNIVERSARY EDITION UIDE ZEUGHAUSER GROUP S POCKET GUIDE TO THE AMERICAN LAWYER RANKINGS UIDE

2 Zeughauser Group Dear Clients and Other Friends: The ZGuide to the Am Law 200 and Global 100 marks our tenth anniversary of publishing the ZGuide, which we are delighted to celebrate by providing you with a complimentary copy. At the time we published last year s ZGuide, we noted that the legal industry was rebounding nicely from the softening in the economy that began in the second half of 2007 and continued through But for most firms, did not fulfill the promise of robust growth akin to that of the golden era that preceded the downturn. Relatively flat demand and the ever-growing chasm separating the most successful firms from the rest of the pack created unprecedented challenges, not only to lead and manage better, but also to do so prudently. Midway through, caution has become the byword of the year, underscored by the collapse of the iconic Dewey & LeBoeuf law firm, which followed on the heels of Howrey, Thelen, Heller, and Brobeck over a few short years, each a wake-up call for change. Looking ahead to 2013, we believe that market leadership will become a still stronger imperative not just for success, but for sustainability. Relentless focus on being at the top is the only prescription for survival in what has become a crucible of change for the legal industry. As we noted last year, the ability to surpass the expectations of evermore sophisticated clients and successfully confront the ZGuide

3 unyielding pressure to maintain high levels of profitability will separate the winners from the losers. Despite unprecedented challenges, we remain optimistic about the future for strong law firms, and flattered by those firms that have chosen us to counsel them in seizing opportunities to lead. And, as we have for each of the past ten years, we want to take this opportunity to thank our clients and the more than fifty Am Law 200 firms that participate in our Chair, CMO, and COO Roundtables for their interest in our work. We look forward to working with them and with new clients to anticipate, identify, and capture near- and long-term opportunities. Sincerely, Table of Contents Methodology The Am Law 200, A-List...2 The Am Law 200 Ranked by Profits Per Equity Partner...4 The Am Law 200 Ranked by Value Per Lawyer...24 Ron Beard Norm Rubenstein Mary K Young Kent Zimmermann Mozhgan Mizban Jack Walker Peter Zeughauser Lonnie Zwerin Methodology The Global The Global 100 Ranked by Profits Per Equity Partner...36 Methodology The Corporate Scorecard...46 The Corporate Scorecard Mergers and Acquisitions...48 Private Equity...49 IPOs...50 Equities by U.S. Corporations...51 Investment-Grade Debt...52 High-Yield Debt...52 Asset-Backed Securities...53 Mortgage-Backed Securities...54 Municipal Bonds...54 Project Finance...55 REIT Equities...56 REIT Debt...56 Bankruptcies...57 Emergences...58 Law Index...60 ALM Media Properties, LLC and Zeughauser Group, LLC Chart information reprinted with permission from the April, May, June, July and October issues of The American Lawyer (The Am Law 100, The Am Law 200, Corporate Scorecard, The A-List, and The Global 100). and ALM Media Properties, LLC ZGuide ZGuide 1

4 The Am Law 200 Methodology The Am Law 200 is reported by staff members at ALM Media s publications throughout the United States, including The American Lawyer, The Connecticut Law Tribune, Daily Business Review (Miami), Fulton County Daily Report (Atlanta), The Legal Intelligencer (Philadelphia), The National Law Journal/Legal Times, The New Jersey Law Journal, New York Law Journal, The Recorder (San Francisco), and Texas Lawyer. Most law firms provide their financials voluntarily for this report, but all data, whether it comes officially from the firm or not, is investigated by reporters. Definitions Gross revenue is fee income from legal work only. It does not include disbursements or income from nonlegal ancillary businesses. In all cases, the revenue and profit figures listed are for the firm s most recently completed fiscal year. Most Am Law firms are on a calendar fiscal year. Net is compensation paid to equity partners. Equity partners are those who receive no more than half their compensation on a fixed-income basis. Nonequity partners are those who receive more than half their compensation on a fixed basis. Lawyer numbers are full-time-equivalent figures for the calendar year taken from The National Law Journal s most recent NLJ 250 survey. 1 Calculations Gross Revenue is rounded to the nearest $500,000. Profits Per Equity Partner, Revenue Per Lawyer, and Average Compensation All Partners are rounded to the nearest $5,000. Revenue Per Lawyer (RPL) is calculated by dividing gross revenue by the number of lawyers. Profits Per Equity Partner (PPEP) is calculated by dividing net operating income by the number of equity partners. Compensation Average All Partners is the net operating income plus compensation to nonequity partners, divided by the number of equity and nonequity partners. Value Per Lawyer (VPL) is calculated by dividing the Compensation Average All Partners by the total number of lawyers. That figure is then divided into $10 million to determine how many lawyers it takes to generate that amount. Location of s Some firms are identified as international or national, rather than identifying them by city, according to the percentage of the firm s attorneys in various regions of the country and the percentage that work outside the United States. Those breakouts are obtained from the most recent National Law Journal NLJ 250 survey. 1 If 40 percent or more of the firm s lawyers were located outside the U.S., the firm is identified as international. If no more than 45 percent of the firm s attorneys were located in any one region of the country, the firm is identified as national. The American Lawyer designates some firms as Vereins, which differ structurally from other Am Law 200 firms, especially in regard to profit sharing. The A-List The A-List, comprised of just 20 firms, is determined by rankings in four surveys The American Lawyer s Revenue Per Lawyer (from The Am Law 200); Pro Bono; and Midlevel Associate Survey rankings; and The Minority Law Journal s Diversity Scorecard rankings. Rankings in each survey are converted into points, using an inversion calculation where a firm ranked Number One receives 200 points, and a firm ranked Number 200 receives just one point. To determine each firm s score, points are doubled for both Revenue Per Lawyer and Pro Bono rankings and then added to the scores for the Midlevel Associate Survey and Diversity Scorecard rankings. Additional information about the A-List is available on americanlawyer.com and in the July issue of The American Lawyer. u 1 In April of, The National Law Journal published the first expanded ranking of law firms based on the number of lawyers, The NLJ ZGuide ZGuide 3

5 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner s noted with a star (I) are on The American Lawyer s A-List. (See the methodology on pages 2 and 3.) s ranked in The Am Law 200 are in bold. PPEP Rank PPEP Rank Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Wachtell, Lipton, Rosen & Katz 245 Lawyers, 78 Equity Partners, 0 Nonequity Partners, New York Quinn Emanuel Urquhart & Sullivan 647 Lawyers, 111 Equity Partners, 35 Nonequity Partners, Los Angeles Sullivan & Cromwell 764 Lawyers, 171 Equity Partners, 0 Nonequity Partners, New York Cahill Gordon & Reindel 280 Lawyers, 58 Equity Partners, 8 Nonequity Partners, New York Cravath, Swaine & Moore 476 Lawyers, 80 Equity Partners, 0 Nonequity Partners, New York Paul, Weiss, Rifkind, Wharton & Garrison I 737 Lawyers, 126 Equity Partners, 0 Nonequity Partners, New York Kirkland & Ellis 1,442 Lawyers, 305 Equity Partners, 359 Nonequity Partners, National Irell & Manella 171 Lawyers, 53 Equity Partners, 0 Nonequity Partners, Los Angeles Cleary Gottlieb Steen & Hamilton 1,183 Lawyers, 191 Equity Partners, 0 Nonequity Partners, International Simpson Thacher & Bartlett I 820 Lawyers, 182 Equity Partners, 0 Nonequity Partners, New York Milbank, Tweed, Hadley & McCloy I 585 Lawyers, 127 Equity Partners, 19 Nonequity Partners, New York Boies, Schiller & Flexner 255 Lawyers, 43 Equity Partners, 54 Nonequity Partners, National Skadden, Arps, Slate, Meagher & Flom I 1,832 Lawyers, 414 Equity Partners, 0 Nonequity Partners, National Gibson, Dunn & Crutcher I 1,039 Lawyers, 274 Equity Partners, 35 Nonequity Partners, National Weil, Gotshal & Manges I 1,153 Lawyers, 186 Equity Partners, 109 Nonequity Partners, New York Cadwalader, Wickersham & Taft 464 Lawyers, 55 Equity Partners, 46 Nonequity Partners, New York Davis Polk & Wardwell I 769 Lawyers, 161 Equity Partners, 0 Nonequity Partners, New York Latham & Watkins I 2,014 Lawyers, 446 Equity Partners, 146 Nonequity Partners, National Schulte Roth & Zabel 371 Lawyers, 84 Equity Partners, 0 Nonequity Partners, New York Willkie Farr & Gallagher 585 Lawyers, 131 Equity Partners, 0 Nonequity Partners, New York $4,460,000 $552,000, $2,255,000 1 $4,460,000 $4,160,000 $723,500, $1,120, $3,420,000 $3,220,000 $1,113,000, $1,455,000 2 $3,220,000 $3,210,000 $326,000, $1,165, $2,950,000 $3,100,000 $568,000, $1,195,000 8 $3,100,000 $3,095,000 $780,000, $1,060, $3,095,000 $3,050,000 $1,750,000,000 5 $1,215,000 5 $1,650,000 $2,875,000 $244,000, $1,425,000 3 $2,875,000 $2,695,000 $1,125,000, $950, $2,695,000 $2,660,000 $963,500, $1,175, $2,660,000 $2,570,000 $652,000, $1,115, $2,435,000 $2,535,000 $317,000, $1,245,000 4 $1,570,000 $2,480,000 $2,165,000,000 3 $1,180, $2,480,000 $2,470,000 $1,166,000, $1,120, $2,240,000 $2,440,000 $1,229,500, $1,065, $2,015,000 $2,375,000 $448,500, $965, $1,600,000 $2,300,000 $910,000, $1,185,000 9 $2,300,000 $2,270,000 $2,152,000,000 4 $1,070, $1,930,000 $2,160,000 $377,500, $1,015, $2,160,000 $2,145,000 $548,000, $935, $2,145,000 4 ZGuide ZGuide 5

6 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner PPEP Rank PPEP Rank Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Dechert 747 Lawyers, 141 Equity Partners, 105 Nonequity Partners, National Debevoise & Plimpton I 648 Lawyers, 143 Equity Partners, 0 Nonequity Partners, New York Paul Hastings I 881 Lawyers, 189 Equity Partners, 55 Nonequity Partners, National King & Spalding 813 Lawyers, 156 Equity Partners, 148 Nonequity Partners, National Wilson Sonsini Goodrich & Rosati 589 Lawyers, 103 Equity Partners, 65 Nonequity Partners, Palo Alto O Melveny & Myers I 766 Lawyers, 184 Equity Partners, 12 Nonequity Partners, Los Angeles Hughes Hubbard & Reed I 305 Lawyers, 57 Equity Partners, 39 Nonequity Partners, New York Bingham McCutchen 855 Lawyers, 162 Equity Partners, 166 Nonequity Partners, National Proskauer Rose 703 Lawyers, 162 Equity Partners, 57 Nonequity Partners, New York Akin Gump Strauss Hauer & Feld I 791 Lawyers, 165 Equity Partners, 136 Nonequity Partners, National Kasowitz Benson Torres & Friedman 355 Lawyers, 54 Equity Partners, 54 Nonequity Partners, New York $2,110,000 $671,000, $900, $1,470,000 $2,075,000 $675,500, $1,045, $2,075,000 $1,965,000 $884,000, $1,005, $1,695,000 $1,935,000 $781,500, $960, $1,240,000 $1,765,000 $549,000, $930, $1,380,000 $1,725,000 $779,000, $1,015, $1,650,000 $1,720,000 $321,000, $1,055, $1,355,000 $1,715,000 $868,500, $1,015, $1,150,000 $1,700,000 $686,000, $975, $1,420,000 $1,685,000 $770,000, $975, $1,220,000 $1,670,000 $240,500, $680, $1,070, BuckleySandler 126 Lawyers, 24 Equity Partners, 0 Nonequity Partners, Washington, DC $1,665,000 $96,000, $760, $1,665, Kramer Levin Naftalis & Frankel 325 Lawyers, 69 Equity Partners, 35 Nonequity Partners, New York Sidley Austin 1,592 Lawyers, 296 Equity Partners, 335 Nonequity Partners, National Fried, Frank, Harris, Shriver & Jacobson 495 Lawyers, 134 Equity Partners, 7 Nonequity Partners, New York Patterson Belknap Webb & Tyler 189 Lawyers, 47 Equity Partners, 3 Nonequity Partners, New York Fragomen, Del Rey, Bernsen and Loewy 306 Lawyers, 52 Equity Partners, 8 Nonequity Partners, National Shearman & Sterling I 834 Lawyers, 176 Equity Partners, 36 Nonequity Partners, International Loeb & Loeb 301 Lawyers, 50 Equity Partners, 116 Nonequity Partners, National Jenner & Block I 433 Lawyers, 109 Equity Partners, 83 Nonequity Partners, Chicago $1,635,000 $312,000, $960, $1,400,000 $1,605,000 $1,415,500,000 8 $890, $1,085,000 $1,580,000 $474,000, $960, $1,540,000 $1,575,000 $175,000, $925, $1,560,000 $1,570,000 $289,500, $945, $1,410,000 $1,560,000 $750,000, $900, $1,405,000 $1,550,000 $257,500, $855, $785,000 $1,545,000 $389,000, $900, $1,075,000 6 ZGuide ZGuide 7

7 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner PPEP Rank PPEP Rank Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Curtis, Mallet-Prevost, Colt & Mosle 310 Lawyers, 26 Equity Partners, 34 Nonequity Partners, International Ropes & Gray I 977 Lawyers, 271 Equity Partners, 0 Nonequity Partners, Boston Jeffer Mangels Butler & Mitchell 125 Lawyers, 41 Equity Partners, 32 Nonequity Partners, Los Angeles Alston & Bird 806 Lawyers, 153 Equity Partners, 199 Nonequity Partners, Atlanta Goodwin Procter 754 Lawyers, 199 Equity Partners, 108 Nonequity Partners, Boston McDermott Will & Emery 984 Lawyers, 187 Equity Partners, 328 Nonequity Partners, National Morgan, Lewis & Bockius 1,300 Lawyers, 247 Equity Partners, 212 Nonequity Partners, National Orrick, Herrington & Sutcliffe 1,049 Lawyers, 183 Equity Partners, 188 Nonequity Partners, National White & Case 1,906 Lawyers, 278 Equity Partners, 146 Nonequity Partners, International Lowenstein Sandler 245 Lawyers, 66 Equity Partners, 39 Nonequity Partners, Roseland, NJ Fish & Richardson 353 Lawyers, 101 Equity Partners, 63 Nonequity Partners, National Winston & Strawn 928 Lawyers, 178 Equity Partners, 195 Nonequity Partners, National Greenberg Traurig 1,699 Lawyers, 312 Equity Partners, 601 Nonequity Partners, National Arnold & Porter 676 Lawyers, 217 Equity Partners, 0 Nonequity Partners, Washington, DC Choate, Hall & Stewart 142 Lawyers, 48 Equity Partners, 31 Nonequity Partners, Boston Morrison & Foerster I 1,025 Lawyers, 260 Equity Partners, 81 Nonequity Partners, San Francisco Kaye Scholer 427 Lawyers, 126 Equity Partners, 23 Nonequity Partners, New York Baker Botts 703 Lawyers, 185 Equity Partners, 88 Nonequity Partners, Houston Wilmer Cutler Pickering Hale and Dorr I 884 Lawyers, 297 Equity Partners, 0 Nonequity Partners, National Cooley 613 Lawyers, 166 Equity Partners, 63 Nonequity Partners, San Francisco Bay Area $1,540,000 $165,000, $530, $935,000 $1,535,000 $903,000, $925, $1,535,000 $1,510,000 $103,000, $825, $1,045,000 $1,500,000 $644,500, $800, $890,000 $1,500,000 $695,500, $925, $1,165,000 $1,500,000 $825,500, $840, $855,000 $1,500,000 $1,160,500, $895, $1,070,000 $1,480,000 $846,000, $805, $960,000 $1,475,000 $1,331,000,000 9 $700, $1,175,000 $1,465,000 $225,000, $920, $1,130,000 $1,440,000 $377,500, $1,070, $1,050,000 $1,440,000 $754,000, $815, $965,000 $1,415,000 $1,243,500, $730, $750,000 $1,405,000 $639,500, $945, $1,405,000 $1,405,000 $140,000, $985, $1,010,000 $1,400,000 $963,500, $940, $1,195,000 $1,395,000 $420,000, $985, $1,280,000 $1,390,000 $581,500, $825, $1,145,000 $1,375,000 $994,000, $1,125, $1,375,000 $1,365,000 $564,500, $920, $1,150,000 8 ZGuide ZGuide 9

8 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 1 Dewey & LeBoeuf filed for bankruptcy in May. PPEP Rank PPEP Rank Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Vinson & Elkins 722 Lawyers, 195 Equity Partners, 73 Nonequity Partners, Houston Munger, Tolles & Olson I 170 Lawyers, 88 Equity Partners, 0 Nonequity Partners, Los Angeles Chadbourne & Parke 405 Lawyers, 79 Equity Partners, 47 Nonequity Partners, New York Sheppard Mullin Richter & Hampton 496 Lawyers, 86 Equity Partners, 147 Nonequity Partners, Los Angeles Brown Rudnick 184 Lawyers, 50 Equity Partners, 38 Nonequity Partners, Boston Manatt, Phelps & Phillips 326 Lawyers, 53 Equity Partners, 137 Nonequity Partners, Los Angeles DLA Piper 3,746 Lawyers, 459 Equity Partners, 789 Nonequity Partners, Verein Williams & Connolly 264 Lawyers, 112 Equity Partners, 0 Nonequity Partners, Washington, DC Katten Muchin Rosenman 584 Lawyers, 142 Equity Partners, 175 Nonequity Partners, National Baker & McKenzie 3,805 Lawyers, 714 Equity Partners, 0 Nonequity Partners, Verein Covington & Burling I 707 Lawyers, 230 Equity Partners, 0 Nonequity Partners, Washington, DC Stroock & Stroock & Lavan 293 Lawyers, 105 Equity Partners, 0 Nonequity Partners, New York Mayer Brown 1,523 Lawyers, 274 Equity Partners, 311 Nonequity Partners, International Hogan Lovells 2,253 Lawyers, 520 Equity Partners, 279 Nonequity Partners, Verein Fenwick & West 248 Lawyers, 81 Equity Partners, 7 Nonequity Partners, Mountain View, CA Finnegan, Henderson, Farabow, Garrett & Dunner 371 Lawyers, 102 Equity Partners, 45 Nonequity Partners, Washington, DC Kelley Drye & Warren 303 Lawyers, 65 Equity Partners, 66 Nonequity Partners, New York Shook, Hardy & Bacon 472 Lawyers, 116 Equity Partners, 85 Nonequity Partners, Kansas City, MO Andrews Kurth 349 Lawyers, 98 Equity Partners, 81 Nonequity Partners, Houston Dewey & LeBoeuf 1 1,040 Lawyers, 190 Equity Partners, 114 Nonequity Partners, New York $1,355,000 $607,500, $840, $1,175,000 $1,350,000 $204,000, $1,200,000 7 $1,350,000 $1,315,000 $306,000, $755, $980,000 $1,265,000 $400,000, $805, $805,000 $1,230,000 $158,000, $860, $895,000 $1,230,000 $268,000, $820, $605,000 $1,225,000 $2,247,000,000 2 $600, $715,000 $1,220,000 $317,500, $1,205,000 6 $1,220,000 $1,215,000 $462,500, $790, $750,000 $1,200,000 $2,265,000,000 1 $595, $1,200,000 $1,200,000 $611,000, $865, $1,200,000 $1,190,000 $268,000, $915, $1,190,000 $1,180,000 $1,134,000, $745, $775,000 $1,165,000 $1,665,000,000 6 $740, $915,000 $1,155,000 $229,500, $925, $1,105,000 $1,130,000 $342,000, $920, $920,000 $1,080,000 $223,000, $735, $700,000 $1,070,000 $341,500, $725, $765,000 $1,040,000 $270,000, $775, $790,000 $1,040,000 $782,000, $750, $835, ZGuide ZGuide 11

9 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 2 Fiscal year ends on March 31. Results were projected in order to meet publication deadline. PPEP Rank PPEP Rank Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Locke Lord 540 Lawyers, 145 Equity Partners, 157 Nonequity Partners, Dallas Sutherland Asbill & Brennan 375 Lawyers, 102 Equity Partners, 66 Nonequity Partners, Atlanta Perkins Coie 747 Lawyers, 157 Equity Partners, 215 Nonequity Partners, Seattle Wiley Rein 271 Lawyers, 64 Equity Partners, 69 Nonequity Partners, Washington, DC Bracewell & Giuliani 422 Lawyers, 84 Equity Partners, 109 Nonequity Partners, Houston Reed Smith 1,486 Lawyers, 313 Equity Partners, 392 Nonequity Partners, National Stevens & Lee 166 Lawyers, 56 Equity Partners, 53 Nonequity Partners, Reading, PA Chapman and Cutler 203 Lawyers, 85 Equity Partners, 39 Nonequity Partners, Chicago Foley Hoag 210 Lawyers, 50 Equity Partners, 45 Nonequity Partners, Boston Mintz, Levin, Cohn, Ferris, Glovsky and Popeo Lawyers, 75 Equity Partners, 128 Nonequity Partners, Boston Pillsbury Winthrop Shaw Pittman 615 Lawyers, 168 Equity Partners, 141 Nonequity Partners, National Steptoe & Johnson 422 Lawyers, 148 Equity Partners, 0 Nonequity Partners, Washington, DC McKenna Long & Aldridge 424 Lawyers, 81 Equity Partners, 114 Nonequity Partners, National Herrick, Feinstein 151 Lawyers, 32 Equity Partners, 33 Nonequity Partners, New York McElroy, Deutsch, Mulvaney & Carpenter 286 Lawyers, 34 Equity Partners, 74 Nonequity Partners, Morristown, NJ Thompson & Knight 291 Lawyers, 89 Equity Partners, 58 Nonequity Partners, Dallas Dickstein Shapiro 343 Lawyers, 55 Equity Partners, 101 Nonequity Partners, Washington, DC McGuireWoods 918 Lawyers, 181 Equity Partners, 250 Nonequity Partners, Richmond Foley & Lardner 874 Lawyers, 155 Equity Partners, 308 Nonequity Partners, Milwaukee Fitzpatrick, Cella, Harper & Scinto 173 Lawyers, 57 Equity Partners, 0 Nonequity Partners, New York $1,035,000 $416,000, $770, $720,000 $1,030,000 $305,500, $815, $815,000 $1,025,000 $547,500, $735, $675,000 $1,025,000 $216,500, $800, $975,000 $1,020,000 $271,500, $645, $640,000 $1,020,000 $993,000, $670, $660,000 $1,015,000 $113,000, $680, $690,000 $1,000,000 $159,500, $785, $735,000 $1,000,000 $149,000, $710, $740,000 $1,000,000 $292,500, $750, $655,000 $1,000,000 $526,500, $855, $770,000 $970,000 $376,500, $890, $970,000 $965,000 $279,500, $660, $625,000 $955,000 $119,000, $790, $705,000 $935,000 $115,500, $405, $470,000 $925,000 $200,000, $685, $710,000 $915,000 $267,000, $780, $670,000 $900,000 $567,500, $620, $590,000 $895,000 $630,000, $720, $565,000 $890,000 $131,000, $755, $890, ZGuide ZGuide 13

10 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner PPEP Rank PPEP Rank Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Holland & Knight 908 Lawyers, 179 Equity Partners, 335 Nonequity Partners, National K&L Gates 1,762 Lawyers, 264 Equity Partners, 643 Nonequity Partners, National Jones Day 2,407 Lawyers, 839 Equity Partners, 0 Nonequity Partners, National Kenyon & Kenyon 167 Lawyers, 44 Equity Partners, 11 Nonequity Partners, New York Schiff Hardin 310 Lawyers, 103 Equity Partners, 90 Nonequity Partners, Chicago Hunton & Williams 752 Lawyers, 243 Equity Partners, 90 Nonequity Partners, National Patton Boggs 491 Lawyers, 104 Equity Partners, 129 Nonequity Partners, Washington, DC Duane Morris 619 Lawyers, 137 Equity Partners, 219 Nonequity Partners, National Morris, Manning & Martin 130 Lawyers, 37 Equity Partners, 32 Nonequity Partners, Atlanta Moore & Van Allen 272 Lawyers, 80 Equity Partners, 71 Nonequity Partners, Charlotte Sills Cummis & Gross 150 Lawyers, 35 Equity Partners, 28 Nonequity Partners, Newark Baker & Hostetler 733 Lawyers, 143 Equity Partners, 199 Nonequity Partners, National Crowell & Moring 445 Lawyers, 95 Equity Partners, 86 Nonequity Partners, Washington, DC Gardere Wynne Sewell 231 Lawyers, 66 Equity Partners, 72 Nonequity Partners, Dallas Arent Fox 315 Lawyers, 102 Equity Partners, 61 Nonequity Partners, Washington, DC Carlton Fields 280 Lawyers, 61 Equity Partners, 107 Nonequity Partners, Tampa Snell & Wilmer 419 Lawyers, 79 Equity Partners, 130 Nonequity Partners, Phoenix Seyfarth Shaw 733 Lawyers, 203 Equity Partners, 160 Nonequity Partners, National Venable 488 Lawyers, 159 Equity Partners, 97 Nonequity Partners, National Jackson Walker 321 Lawyers, 96 Equity Partners, 117 Nonequity Partners, Dallas $890,000 $568,000, $625, $545,000 $890,000 $1,061,500, $605, $505,000 $870,000 $1,651,000,000 7 $685, $870,000 $870,000 $123,500, $740, $770,000 $870,000 $227,000, $730, $645,000 $865,000 $590,000, $785, $760,000 $865,000 $339,500, $690, $625,000 $860,000 $415,500, $670, $550,000 $860,000 $87,000, $670, $655,000 $855,000 $161,000, $590, $585,000 $855,000 $98,500, $655, $660,000 $845,000 $440,000, $600, $585,000 $845,000 $329,500, $740, $625,000 $835,000 $149,500, $645, $580,000 $830,000 $230,500, $730, $640,000 $830,000 $160,500, $575, $520,000 $825,000 $253,000, $605, $630,000 $815,000 $484,000, $660, $575,000 $815,000 $355,500, $730, $630,000 $805,000 $194,000, $605, $530, ZGuide ZGuide 15

11 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 3 Squire, Sanders & Dempsey joined with Hammonds to form the Squire Sanders verein in January, so there is no year-over-year comparison. 4 Edwards Angell Palmer & Dodge merged with Wildman, Harrold, Allen & Dion to form Edwards Wildman Palmer in October, so there is no year-overyear comparison. 5 Sonnenschein Nath & Rosenthal joined with Denton Wilde Sapte in September 2010 to form the SNR Denton verein, so there is no year-over-year comparison. PPEP Rank PPEP Rank Lawyers, Partners, Location Sullivan & Worcester 144 Lawyers, 41 Equity Partners, 36 Nonequity Partners, Boston Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners $805,000 $101,000, $700, $605, Fulbright & Jaworski 810 Lawyers, 313 Equity Partners, 32 Nonequity Partners, Houston Squire Sanders3 1,231 Lawyers, 165 Equity Partners, 282 Nonequity Partners, Verein Barnes & Thornburg 469 Lawyers, 198 Equity Partners, 115 Nonequity Partners, Indianapolis Allen Matkins Leck Gamble Mallory & Natsis 199 Lawyers, 106 Equity Partners, 17 Nonequity Partners, Los Angeles Robins, Kaplan, Miller & Ciresi 244 Lawyers, 88 Equity Partners, 12 Nonequity Partners, Minneapolis Bryan Cave 884 Lawyers, 205 Equity Partners, 144 Nonequity Partners, National Winstead 258 Lawyers, 100 Equity Partners, 44 Nonequity Partners, Dallas Gibbons 200 Lawyers, 39 Equity Partners, 63 Nonequity Partners, Newark Pepper Hamilton 469 Lawyers, 158 Equity Partners, 60 Nonequity Partners, Philadelphia Haynes and Boone 493 Lawyers, 138 Equity Partners, 85 Nonequity Partners, Dallas Troutman Sanders 597 Lawyers, 188 Equity Partners, 83 Nonequity Partners, Atlanta Edwards Wildman Palmer4 585 Lawyers, 50 Equity Partners, 191 Nonequity Partners, Boston Honigman Miller Schwartz and Cohn 220 Lawyers, 124 Equity Partners, 51 Nonequity Partners, Detroit Vedder Price 242 Lawyers, 123 Equity Partners, 25 Nonequity Partners, Chicago Sedgwick 343 Lawyers, 63 Equity Partners, 60 Nonequity Partners, San Francisco Bay Area Drinker Biddle & Reath 579 Lawyers, 186 Equity Partners, 76 Nonequity Partners, Philadelphia Nixon Peabody 626 Lawyers, 175 Equity Partners, 145 Nonequity Partners, National Brownstein Hyatt Farber Schreck 214 Lawyers, 64 Equity Partners, 61 Nonequity Partners, Denver SNR Denton5 1,138 Lawyers, 224 Equity Partners, 279 Nonequity Partners, Verein $800,000 $597,500, $740, $785,000 $800,000 $741,500, $600, $500,000 $790,000 $297,500, $635, $615,000 $780,000 $161,000, $810, $740,000 $775,000 $165,000, $675, $735,000 $770,000 $557,500, $630, $595,000 $770,000 $153,000, $590, $600,000 $765,000 $111,000, $555, $480,000 $765,000 $324,500, $690, $655,000 $760,000 $305,000, $620, $630,000 $735,000 $386,000, $645, $620,000 $730,000 $352,500, $605, $435,000 $730,000 $169,000, $770, $585,000 $725,000 $181,000, $750, $660,000 $720,000 $206,500, $600, $520,000 $710,000 $385,500, $665, $610,000 $705,000 $422,500, $675, $540,000 $700,000 $142,500, $665, $555,000 $700,000 $719,500, $630, $485, ZGuide ZGuide 17

12 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 6 Joined with Faegre & Benson to form Faegre Baker Daniels, effective January. Results are for the legacy operation only. 7 Kilpatrick Stockton joined with Townsend and Townsend and Crew to form Kilpatrick Townsend & Stockton in January, so there is no year-over-year comparison. PPEP Rank PPEP Rank Lawyers, Partners, Location Buchanan Ingersoll & Rooney 415 Lawyers, 103 Equity Partners, 89 Nonequity Partners, Pittsburgh Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners $695,000 $257,500, $620, $535, Gordon & Rees 403 Lawyers, 33 Equity Partners, 147 Nonequity Partners, San Francisco Bay Area Baker & Daniels Lawyers, 106 Equity Partners, 48 Nonequity Partners, Indianapolis Cozen O Connor 503 Lawyers, 146 Equity Partners, 100 Nonequity Partners, Philadelphia Blank Rome 472 Lawyers, 139 Equity Partners, 121 Nonequity Partners, Philadelphia Ice Miller 219 Lawyers, 97 Equity Partners, 24 Nonequity Partners, Indianapolis Kilpatrick Townsend & Stockton7 576 Lawyers, 166 Equity Partners, 107 Nonequity Partners, Atlanta Lewis Brisbois Bisgaard & Smith 804 Lawyers, 96 Equity Partners, 363 Nonequity Partners, Los Angeles Wilson Elser Moskowitz Edelman & Dicker 785 Lawyers, 152 Equity Partners, 182 Nonequity Partners, National Epstein Becker & Green 275 Lawyers, 58 Equity Partners, 65 Nonequity Partners, National Nelson Mullins Riley & Scarborough 414 Lawyers, 153 Equity Partners, 104 Nonequity Partners, Columbia, SC Day Pitney 314 Lawyers, 148 Equity Partners, 0 Nonequity Partners, Hartford Jackson Lewis 644 Lawyers, 197 Equity Partners, 145 Nonequity Partners, National McCarter & English 378 Lawyers, 94 Equity Partners, 98 Nonequity Partners, Newark Womble Carlyle Sandridge & Rice 491 Lawyers, 156 Equity Partners, 158 Nonequity Partners, Winston-Salem Bradley Arant Boult Cummings 359 Lawyers, 193 Equity Partners, 42 Nonequity Partners, Birmingham Fox Rothschild 471 Lawyers, 150 Equity Partners, 59 Nonequity Partners, Philadelphia Buchalter Nemer 158 Lawyers, 82 Equity Partners, 0 Nonequity Partners, Los Angeles Dickinson Wright 254 Lawyers, 94 Equity Partners, 58 Nonequity Partners, Detroit Dykema Gossett 331 Lawyers, 87 Equity Partners, 106 Nonequity Partners, Chicago $695,000 $185,500, $460, $320,000 $680,000 $175,500, $640, $575,000 $655,000 $294,000, $585, $510,000 $650,000 $309,500, $655, $490,000 $635,000 $127,500, $580, $560,000 $630,000 $362,000, $630, $530,000 $620,000 $316,500, $395, $390,000 $620,000 $310,000, $395, $460,000 $615,000 $160,500, $585, $440,000 $600,000 $237,000, $570, $460,000 $595,000 $185,000, $590, $595,000 $595,000 $326,500, $505, $450,000 $590,000 $211,500, $560, $445,000 $590,000 $279,000, $570, $430,000 $585,000 $198,500, $555, $525,000 $585,000 $257,000, $545, $490,000 $570,000 $108,000, $685, $570,000 $565,000 $129,500, $510, $440,000 $565,000 $174,500, $525, $405, ZGuide ZGuide 19

13 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 8 Joined with Baker & Daniels to form Faegre Baker Daniels, effective January. Results are for the legacy operation only. PPEP Rank PPEP Rank Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Goulston & Storrs 167 Lawyers, 93 Equity Partners, 0 Nonequity Partners, Boston Armstrong Teasdale 238 Lawyers, 80 Equity Partners, 46 Nonequity Partners, St. Louis Dorsey & Whitney 531 Lawyers, 222 Equity Partners, 42 Nonequity Partners, Minneapolis Stoel Rives 374 Lawyers, 135 Equity Partners, 89 Nonequity Partners, Portland, OR Faegre & Benson Lawyers, 199 Equity Partners, 0 Nonequity Partners, Minneapolis Hinshaw & Culbertson 472 Lawyers, 105 Equity Partners, 204 Nonequity Partners, Chicago Polsinelli Shughart 503 Lawyers, 107 Equity Partners, 175 Nonequity Partners, Kansas City, MO Thompson Hine 347 Lawyers, 104 Equity Partners, 84 Nonequity Partners, Cleveland Ballard Spahr 473 Lawyers, 227 Equity Partners, 0 Nonequity Partners, Philadelphia Husch Blackwell 520 Lawyers, 158 Equity Partners, 169 Nonequity Partners, St. Louis Porter Wright Morris & Arthur 230 Lawyers, 88 Equity Partners, 51 Nonequity Partners, Columbus Akerman Senterfitt 471 Lawyers, 179 Equity Partners, 72 Nonequity Partners, Miami Thompson Coburn 309 Lawyers, 145 Equity Partners, 61 Nonequity Partners, St. Louis Ogletree, Deakins, Nash, Smoak & Stewart 543 Lawyers, 137 Equity Partners, 161 Nonequity Partners, National Stinson Morrison Hecker 275 Lawyers, 121 Equity Partners, 54 Nonequity Partners, Kansas City, MO Davis Wright Tremaine 436 Lawyers, 191 Equity Partners, 81 Nonequity Partners, Seattle Saul Ewing 219 Lawyers, 83 Equity Partners, 49 Nonequity Partners, Philadelphia Baker, Donelson, Bearman, Caldwell & Berkowitz 546 Lawyers, 187 Equity Partners, 94 Nonequity Partners, Memphis Littler Mendelson 851 Lawyers, 324 Equity Partners, 110 Nonequity Partners, National Michael Best & Friedrich 196 Lawyers, 81 Equity Partners, 50 Nonequity Partners, Milwaukee $565,000 $110,500, $665, $565,000 $560,000 $109,500, $460, $445,000 $560,000 $323,500, $610, $520,000 $550,000 $205,000, $545, $450,000 $540,000 $254,500, $600, $540,000 $540,000 $205,000, $435, $325,000 $540,000 $235,000, $465, $385,000 $535,000 $183,500, $530, $425,000 $530,000 $285,000, $605, $530,000 $525,000 $266,000, $510, $390,000 $525,000 $122,500, $535, $380,000 $520,000 $257,500, $545, $450,000 $520,000 $168,000, $545, $445,000 $505,000 $269,500, $495, $370,000 $505,000 $143,500, $520, $425,000 $500,000 $267,000, $615, $450,000 $500,000 $122,500, $560, $420,000 $490,000 $265,500, $485, $410,000 $490,000 $427,000, $500, $425,000 $485,000 $104,000, $530, $380, ZGuide ZGuide 21

14 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner PPEP Rank PPEP Rank Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Fisher & Phillips 237 Lawyers, 108 Equity Partners, 35 Nonequity Partners, National Lathrop & Gage 290 Lawyers, 85 Equity Partners, 63 Nonequity Partners, Kansas City, MO Lewis and Roca 183 Lawyers, 83 Equity Partners, 17 Nonequity Partners, Phoenix Burr & Forman 232 Lawyers, 102 Equity Partners, 34 Nonequity Partners, Birmingham Adams and Reese 267 Lawyers, 113 Equity Partners, 58 Nonequity Partners, New Orleans Robinson & Cole 206 Lawyers, 76 Equity Partners, 26 Nonequity Partners, Hartford Holland & Hart 394 Lawyers, 203 Equity Partners, 2 Nonequity Partners, Denver Dinsmore & Shohl 412 Lawyers, 131 Equity Partners, 95 Nonequity Partners, Cincinnati Knobbe Martens Olson & Bear 265 Lawyers, 131 Equity Partners, 3 Nonequity Partners, Irvine, CA Vorys, Sater, Seymour and Pease 345 Lawyers, 157 Equity Partners, 6 Nonequity Partners, Columbus Lane Powell 172 Lawyers, 72 Equity Partners, 39 Nonequity Partners, Seattle Kutak Rock 409 Lawyers, 186 Equity Partners, 62 Nonequity Partners, National Quarles & Brady 413 Lawyers, 175 Equity Partners, 78 Nonequity Partners, Milwaukee Williams Mullen 267 Lawyers, 89 Equity Partners, 98 Nonequity Partners, Richmond Hodgson Russ 195 Lawyers, 91 Equity Partners, 16 Nonequity Partners, Buffalo GrayRobinson 257 Lawyers, 146 Equity Partners, 22 Nonequity Partners, Orlando Miller Canfield 321 Lawyers, 100 Equity Partners, 67 Nonequity Partners, Detroit Frost Brown Todd 393 Lawyers, 156 Equity Partners, 80 Nonequity Partners, Cincinnati Phelps Dunbar 269 Lawyers, 119 Equity Partners, 0 Nonequity Partners, New Orleans Roetzel & Andress 213 Lawyers, 136 Equity Partners, 0 Nonequity Partners, Akron $480,000 $121,500, $515, $420,000 $465,000 $138,000, $475, $365,000 $465,000 $90,000, $490, $420,000 $460,000 $109,500, $470, $405,000 $455,000 $128,000, $480, $370,000 $455,000 $105,500, $510, $395,000 $450,000 $203,500, $515, $450,000 $445,000 $171,500, $415, $345,000 $445,000 $165,000, $625, $445,000 $445,000 $157,500, $455, $430,000 $440,000 $94,500, $550, $365,000 $435,000 $172,000, $420, $380,000 $420,000 $212,500, $515, $365,000 $420,000 $125,000, $470, $335,000 $405,000 $93,000, $480, $365,000 $400,000 $121,500, $475, $380,000 $400,000 $137,000, $425, $330,000 $385,000 $169,500, $430, $330,000 $365,000 $110,500, $410, $365,000 $315,000 $99,000, $465, $315, ZGuide ZGuide 23

15 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer s noted with a star (I) are on The American Lawyer s "A-List." (See the methodology on pages 2 and 3.) s ranked 101 to 200 in The Am Law 200 are in bold. See footnotes on the chart ranking firms by Profits Per Equity Partner for information about changes in firms status in /. VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million 1 Wachtell, Lipton, Rosen & Katz $1,420, Dechert $485, Irell & Manella $890, Fish & Richardson $485, Quinn Emanuel Urquhart & Sullivan $770, Lowenstein Sandler $485, Kirkland & Ellis $760, Davis Polk & Wardwell I $480, Sullivan & Cromwell $720, Wiley Rein $480, Munger, Tolles & Olson I $700, Willkie Farr & Gallagher $480, Cahill Gordon & Reindel $695, Goodwin Procter $475, Gibson, Dunn & Crutcher I $665, Jenner & Block I $475, Jeffer Mangels Butler & Mitchell $610, Paul Hastings I $470, Milbank, Tweed, Hadley & McCloy I $610, Akin Gump Strauss Hauer & Feld I $465, Boies, Schiller & Flexner $600, Honigman Miller Schwartz and Cohn $465, Simpson Thacher & Bartlett I $590, King & Spalding $465, Latham & Watkins I $570, Wilmer Cutler Pickering Hale and Dorr I $465, Choate, Hall & Stewart $560, Allen Matkins Leck Gamble Mallory & Natsis $460, Skadden, Arps, Slate, Meagher & Flom I $560, Debevoise & Plimpton I $460, Paul, Weiss, Rifkind, Wharton & Garrison I $530, Stevens & Lee $455, Cravath, Swaine & Moore $520, Arnold & Porter $450, Weil, Gotshal & Manges I $515, Chapman and Cutler $450, Williams & Connolly $515, Kramer Levin Naftalis & Frankel $450, Schulte Roth & Zabel $490, McDermott Will & Emery $450, ZGuide ZGuide 25

16 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million 41 Baker Botts $445, Locke Lord $405, Kaye Scholer $445, Vedder Price $405, Bingham McCutchen $440, Morrison & Foerster I $400, Fried, Frank, Harris, Shriver & Jacobson $440, Schiff Hardin $400, Proskauer Rose $440, Wilson Sonsini Goodrich & Rosati $395, Cleary Gottlieb Steen & Hamilton $435, Alston & Bird $390, Loeb & Loeb $435, Covington & Burling I $390, Vinson & Elkins $435, Fenwick & West $390, Brown Rudnick $430, Pillsbury Winthrop Shaw Pittman $385, Cooley $430, Winston & Strawn $385, Sidley Austin $430, Morgan, Lewis & Bockius $380, Hughes Hubbard & Reed I $425, Sheppard Mullin Richter & Hampton $380, O Melveny & Myers I $425, Finnegan, Henderson, Farabow, Garrett & Dunner $365, Ropes & Gray I $425, Sutherland Asbill & Brennan $365, Stroock & Stroock & Lavan $425, Thompson & Knight $360, Patterson Belknap Webb & Tyler $415, Manatt, Phelps & Phillips $355, Barnes & Thornburg $410, Shearman & Sterling I $355, Andrews Kurth $405, Cadwalader, Wickersham & Taft $350, Greenberg Traurig $405, Jackson Walker $350, Katten Muchin Rosenman $405, Morris, Manning & Martin $350, ZGuide ZGuide 27

17 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million 81 Bradley Arant Boult Cummings $345, Duane Morris $315, Gardere Wynne Sewell $345, Goulston & Storrs $315, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo $340, Reed Smith $315, Orrick, Herrington & Sutcliffe $340, Snell & Wilmer $315, Steptoe & Johnson $340, Carlton Fields $310, Foley Hoag $335, Holland & Knight $310, Fulbright & Jaworski $335, Ice Miller $310, Hunton & Williams $335, Chadbourne & Parke $305, Perkins Coie $335, Dickstein Shapiro $305, Winstead $335, Herrick, Feinstein $305, Arent Fox $330, Jones Day $305, Venable $330, Pepper Hamilton $305, Baker & Daniels $325, Foley & Lardner $300, Brownstein Hyatt Farber Schreck $325, Kelley Drye & Warren $300, Hogan Lovells $325, Mayer Brown $300, Kasowitz Benson Torres & Friedman $325, Patton Boggs $300, Moore & Van Allen $325, Robins, Kaplan, Miller & Ciresi $300, Shook, Hardy & Bacon $325, Buchalter Nemer $295, Sullivan & Worcester $325, Fitzpatrick, Cella, Harper & Scinto $295, BuckleySandler $315, Thompson Coburn $295, ZGuide ZGuide 29

18 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million 121 Bracewell & Giuliani $290, K&L Gates $260, McKenna Long & Aldridge $290, White & Case $260, Haynes and Boone $285, Ballard Spahr $255, Nelson Mullins Riley & Scarborough $285, Crowell & Moring $255, Seyfarth Shaw $285, Faegre & Benson $255, Davis Wright Tremaine $280, Fisher & Phillips $255, Day Pitney $280, Kenyon & Kenyon $255, Troutman Sanders $280, Michael Best & Friedrich $255, Baker & Hostetler $275, Saul Ewing $255, Drinker Biddle & Reath $275, Cozen O Connor $250, Fragomen, Del Rey, Bernsen and Loewy $275, Kilpatrick Townsend & Stockton $250, McGuireWoods $275, Buchanan Ingersoll & Rooney $245, Nixon Peabody $275, Dewey & LeBoeuf $245, Sills Cummis & Gross $275, Gibbons $245, Womble Carlyle Sandridge & Rice $275, GrayRobinson $245, Blank Rome $270, Husch Blackwell $245, Stinson Morrison Hecker $270, Akerman Senterfitt $240, Stoel Rives $270, Jackson Lewis $240, Dickinson Wright $265, Adams and Reese $235, Dorsey & Whitney $260, Armstrong Teasdale $235, ZGuide ZGuide 31

19 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million VPL Rank VPL: Partner Comp/ Lawyers, FY Lawyers Needed to Generate $10 Million 159 Bryan Cave $235, SNR Denton $215, Burr & Forman $235, Baker, Donelson, Bearman, Caldwell & Berkowitz $210, DLA Piper $235, Ogletree, Deakins, Nash, Smoak & Stewart $205, Dykema Gossett $235, Vorys, Sater, Seymour and Pease $205, Holland & Hart $235, Frost Brown Todd $200, Lane Powell $235, Hodgson Russ $200, Williams Mullen $235, Roetzel & Andress $200, Kutak Rock $230, Epstein Becker & Green $195, Lewis and Roca $230, Robinson & Cole $195, Porter Wright Morris & Arthur $230, Wilson Elser Moskowitz Edelman & Dicker $195, Thompson Hine $230, Dinsmore & Shohl $190, Baker & McKenzie $225, Lathrop & Gage $185, Knobbe Martens Olson & Bear $225, Sedgwick $185, Lewis Brisbois Bisgaard & Smith $225, Curtis, Mallet-Prevost, Colt & Mosle $180, McCarter & English $225, Edwards Wildman Palmer $180, Quarles & Brady $225, McElroy, Deutsch, Mulvaney & Carpenter $180, Fox Rothschild $215, Squire Sanders $180, Hinshaw & Culbertson $215, Miller Canfield $170, Littler Mendelson $215, Phelps Dunbar $160, Polsinelli Shughart $215, Gordon & Rees $145, ZGuide ZGuide 33

20 The Global 100 Methodology The Global 100 chart ranks the world s largest law firms by profits per equity partner, revenue, and head count. The charts, which include data for the fiscal year most recently published by ALM, were compiled by The American Lawyer in cooperation with Legal Week in London and published in the October issue of The American Lawyer. Although foreign law firms differ in structure from U.S. law firms, The American Lawyer took steps to level the playing field. Currency conversion rates for non-u.s. firms are based on the annual averages published by the U.S. Federal Reserve. A total of 114 firms were included on the global charts. Profits Per Equity Partner s are ranked by Profits Per Equity Partner (PPEP). PPEP figures were rounded to the nearest $5,000 and were obtained from the same sources that provided the revenue figures. Only firms included in the Most Revenue or Most Lawyers rankings were considered for PPEP ranking. Most Lawyers The ranking in the last column of the Global 100 chart is based on the average number of full-time-equivalent lawyers at the firm. The firms on this chart are the world s 100 largest. Location of s s are identified as international if 40 percent or more of their lawyers work outside their home country. s identified as national have no more than 45 percent of their lawyers located in one region of their home country. The geographic breakdown comes from the 2010 National Law Journal survey of the 250 largest U.S. firms (the NLJ 250) 1, or from the firm s Web site. The American Lawyer designates some firms as "Vereins," which differ structurally from other Global 100 firms, especially in regard to profit sharing. u Most Revenue The firms ranked by gross revenue are the world s 100 highest-grossing law firms. Revenue figures are rounded to the nearest $500,000. Financial information for U.S.- based law firms is obtained from The American Lawyer s The Am Law 100 report, except where otherwise noted. Financial information for law firms in Europe is from Legal Week. Australian and Canadian firms were surveyed by The American Lawyer. 1 In April of, The National Law Journal published the first expanded ranking of law firms based on the number of lawyers, The NLJ ZGuide ZGuide 35