Profits Per Partner is a Joke
I'm not the only one who smells blood in the hallways of Mayer Brown. "In case you missed it, Mayer Brown fired 45 partners--men and women who have sacrificed for the firm and who have families to feed and kids to put through college. The reason? Well, Mayer Brown's profits per partner were only $1.1 million per partner," wrote my friend and cohort Patrick Lamb wrote his his blog.
Regarding profits-per-partner as a lure for recruits and laterals, he adds, "PPP is a joke. And what's more of a joke, lawyers either are so stupid that they can't see behind the manipulation or they know how meaningless the statistic is, in which case law firm managers are fools for running their firms based on a bogey everyone knows is so malleable. Seriously, senior firm managers really have to ask themselves, if a prospective partner is attracted to them because of their PPP and doesn't know how the firm's "stock price" is so easily manipulated, do they really want such a fool as a partner?"
"Mayer Brown just killed whatever semblance of institutional loyalty that might have existed."
