Perhaps the reports of Big Law’s last days were a bit premature. Mayer Brown, the firm that The New Republic chose last year as a case study for the dysfunction of large law firms and imminent problems the Big Law firm model faces, saw profits per equity partner jump more than 11 percent in 2013 on the back of 5 percent revenue growth, according to The American Lawyer’s reporting. Mayer Brown’s PPP shot up to $1.285 million, the highest profits ever for the firm.
Mayer Brown posted its prior highest profit numbers in 2007, before the financial crisis, when PPP hit $1.24 million. The partnership was considerably larger at that point, with 318 equity partners, more than 15 percent more than the 269 who split the profits in 2013.
