All the key financial metrics for The Am Law 100 rose by single digits last year: gross revenue, revenue per lawyer, and profits per partner. Eighty-three firms posted revenue gains25 more than in the previous year. And the terrifying days of mass layoffs seemed to be over: Firms reversed course and added to their head count. Even equity partners, who sometimes seem like an endangered species, grew their ranks on average after two years of flat or negative growth. But as a rule, income inequality continued to plague the rankings. Both The Am Law 50 and The Am Law 51100 reported 6 percent increases in gross, to totals of $50.9 billion and $20.1 billion, respectively. But the Fabulous 50 kept more of that money for their partners. This group posted average profits per partner of $1.6 million last yeara 4.8 percent jumpversus The Am Law 51100′s 1.4 percent PPP rise, to $1.1 million.
Let’s look at The Am Law 100 overall. Gross revenue rose 5.3 percent last year, to an average of $709,725,589. Firms continued to raise rates slightly, push work upward to partners, and see growth in their litigation, energy, and regulatory practices.
