Dentons stopped reporting ‘meaningless’ PEP figure and it led to debates inside legal business community on both sides of the ocean… These debated reflect the essence of partners’ love and hate to numbers.
…average global PEP figures say «nothing about the success of a firm»; that partners often object to voluntary public disclosure; that the reporting can lead to client dissatisfaction; and finally they argue that “a focus on profit undermines the differences between the practice of law being a profession rather than solely a business.
PEP — profit per equity partner— one of the quality and quantity indicators for rating legal firms. What will we rate? Or else, is there an alternative? I will watch because it is interesting!..
Here is a beautiful overview of the topic:
- Dentons to stop reporting ‘meaningless’ PEP figure
- Dentons vs the legal press: partners react to PEP row
- Partners divided on reliability of PEP and need for transparency
At the same time, while western colleagues are discussing how good/transparent/applicable/reliable indicator is PEP, I ask myself: “which indicators you, my dear partners, are monitoring on a regular basis? If you do it at all? 🙂