Why do Skadden lawyers earn twice as much as Baker ones?
So asks Bob Ambrogi, who is musing over the Am Law 100, the list of America's 100 top-grossing law firms from 2004. With an eye to their hefty accounts receiveable, Ambrogi writes:
"I find it interesting that top-ranked Skadden earned $212 million more than number two Baker & McKenzie even though it has roughly half the number of lawyers -- 1,554 at Skadden compared to 2,992 at Baker. That means that, on a per-lawyer basis, Skadden's lawyers earned more than twice as much as Baker's lawyers -- $927,000 versus $410,000. The calculations for number three Latham & Watkins are more in line with Skadden -- earning $234 million less than Skadden with 52 fewer lawyers, for revenues per lawyer of $803,000. There must be more to this story than these numbers reveal."
Posted by Product Team on June 29, 2005 at 02:50 PM | Permalink
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