The past year posed new and unusual challenges for U.S. law firms, rattled by economic uncertainty, remote work, stay-home orders and social distancing. Despite the turmoil, profits at the Am Law 100 leapt to new heights. Eight firms posted net income in excess of $1 billion in 2020, profits per equity partner spiked 13.4%, and the average profit margin bumped from 40% to 43%.
What data are you leveraging to sell strategy internally? Get the Am Law 100 data exclusively with Legal Compass.
Kirkland & Ellis led the Am Law 100 in profits with $2.95 billion, with Latham & Watkins next at $2.37 billion. They were joined in an expanded billion-dollar club by Skadden, Arps, Slate, Meagher & Flom; Gibson, Dunn & Crutcher; Morgan, Lewis & Bockius; Jones Day; White & Case; and Simpson Thacher & Bartlett.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
