Profits picture tells another story

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  • PEP/PPP

    It is true that "revenue" doesn't tell the whole story. But PEP analysis is not immune from the same criticism. Particularly when some US firms have fudged who is or is not an equity partner to meet the AMLaw 100 criteria. Many firms will say they only have one class of partner- an all equity partnership. But when it comes to the AMLAW 100, they conveniently become a two class partnership. Look at MoFo or Orrick for example. To weed these firms out the focus on results needs to look at PEP, PPP and RPL, or to properly and uniformly define what an equity partner is.

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