Steptoe Profits Per Partner Drop 8% In 2013

Law360, Los Angeles (March 6, 2014, 8:52 PM EST) -- Steptoe & Johnson LLP posted flat revenue and profits per partner that slid 7.7 percent to $905,000 a head, in a year that chair Philip West described as a return to the norm, according to reports Thursday.

The law firm brought in $365 million in 2013, with revenue per lawyer inching up to $900,000, according to a report on Thursday in the Legal Times. But the firm’s profit margin dropped to 34 percent in 2013, down from 40 percent a year earlier, according to the report....
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