Profits per equity partner – the metric everyone loves to hate but can’t seem to discard — might, just might, be taking a back seat to other financial metrics as partners and firms look to better measures of financial health and, to some extent, look to use the recession as a way of tamping down the importance of the PPP figure.
PPP has become the figure that provokes complaints that the number is too easily manipulated while at the same time garners mass attention when the numbers are released. Most attorneys and consultants say the figure won’t ever disappear from law firm financial vernacular — and some firm leaders point to its benefits — but there have been some signs in recent months that the industry is eyeing other data to gauge and tout law firm health.
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