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As the legal industry reeled from the Great Recession, it was the Am Law 100 that bore the brunt of the 2008 financial crisis, but the Second Hundred’s financial indices also declined. More than a decade later, law firms have recovered from the Great Recession, and the Second Hundred have overcome a few years of economic instability to reach new heights.

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In 2008, the cutoff to make the Second Hundred was $99 million in gross revenue, roughly in line with the cutoff in 2019—$101 million. At the top of the list, though, firm No. 101 (Baker, Donelson, Bearman, Caldwell & Berkowitz) brought home $378.9 million in 2019, nearly 38% higher than 101st-ranked Bracewell & Giuliani’s $275.5 million in 2008. As a group, the Second Hundred have grown revenue 19% since 2008, despite the often-challenging economic climate.

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Samantha Stokes

Samantha Stokes, based in New York, is a staff reporter at American Lawyer covering the business of law. You can reach her at sstokes@alm.com or on Twitter: @stokessamanthaj.

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