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Conventional wisdom has it that mergers enhance profitability through increased revenues and reduced costs. However, the numbers contradict this view: post-merger revenues are lower relative to competitor firms than are the sum of the predecessor firms’ revenues, and costs per lawyer increase markedly.
The evidence is unambiguous: mergers increase profitability. The merged entities resulting from intra-Am Law 200 combinations climb an average of 23 places in the profit-per-equity-partner (PPP) rankings from the five-years before to the five years after the merger. Average compensation for all partners rises by a comparable amount — 18 places over the same time period.
By Scott McFetters
Advanced technology isn’t free. Outfitting your team with equipment that will move the needle can require an impossibly large capital outlay. The solution may not be, therefore, to purchase all that gear. It may be to lease or finance it.
By Lawrence L. Bell
The rule, overseen by the DOL’s Employee Benefits Security Administration, modifies the definition of “employer” under ERISA regarding entities that could sponsor group health and benefit coverage.
By Lizzy McLellan
More Law Firms Are Paving the Path to Partner, But What Happens Once One Gets There Is Less Than Certain
In some ways, the country’s most recently promoted partners are more prepared than ever to take on their new roles. But the change still comes with its surprises.
By Justin Peacock
A rundown of the top items lawyers should have on their financial checklists, based on their career stage.