Littler Mendelson Boosts Partner Profits, Topping Other San Francisco Firms
The employment law firm Littler Mendelson managed to boost profits per equity partner by 3 percent and revenue per lawyer by 5 percent, the highest increases out of seven San Francisco-based firms surveyed.
Average profits per partner at Littler Mendelson increased to $435,000 while the firm’s head count increased by 20 percent, the Recorder reports.
Littler president Marko Mrkonich said the numbers would be even better if the firm didn’t have the expenses of opening new offices in St. Louis, Birmingham and Detroit. He said the firm’s employment focus is a boon.
“We don’t take anything for granted, nor do we take special delight in the challenges our friends and clients and other law firms are facing,” he told the Recorder. “We are fortunate to be in a space where there remains a high demand for our services.”
Orrick, Herrington & Sutcliffe saw a 21 percent drop in profits per equity partner, to $1.315 million, the largest decrease among the firms surveyed. Yet the firm saw an 8 percent increase in gross revenue.
Expansion costs, the addition of new lawyers and the slowdown in capital markets work affected Orrick’s numbers, the story says.
The Wall Street Journal Law Blog noted the story and summarized the financial results from the seven firms.
