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Ballooning Nonequity Partnerships Are Boosting Leverage, But Will They Raise Profits?
For the first time, law firms added nearly as many nonequity partners as they did associates.
The 2024 Am Law 100: Ranked by Average Compensation - All Partners
Average Compensation–All Partners increased by 6.2% in 2023. Seventy-two firms posted increases, compared with 41 the previous year. Twenty firms posted double-digit gains, while five firms posted double-digit losses.The 2024 Am Law 100: Ranked by Profits Per Lawyer
Profits per lawyer is an alternative way of looking at firm profitability, intended to reduce the influence of factors such as leverage. The average is about $518,000, and the list-topper is about $3.04 million.The 2024 Am Law 100: Ranked by Profits Per Equity Partner
For the Am Law 100 as a whole, average PEP was up by 9.3% in 2023. Thirty-seven firms had growth rates of at least 10%, compared to 14 last year. Twenty firms had declines in 2023.The 2024 Am Law 100: Ranked by Revenue Per Lawyer
For the Am Law 100 as a whole, average revenue per lawyer, the metric that we've long regarded as the most reliable measure of a firm's financial health, increased by 4.9%. In 2023, eighty-five firms posted a gain in RPL.
Law Journal Press | Digital Book
District of Columbia Legal Malpractice Law 2024
Authors: Shari L. Klevens, Alanna G. Clair
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The 2024 Am Law 100: Ranked by Gross Revenue
Fifty-four firms posted gross revenue of $1 billion or more in 2023, four more than in 2022. Ninety firms reported gains in gross revenue.
3 Partners on Crowell & Moring's GM Team Move to Morgan Lewis
April Nelson Ross and Rachel Raphael are based in Washington, D.C., and Mohamed Awan is based in Chicago.
An Early Look: The 2024 Am Law 200 Financials
This feed is continually updated. So bookmark it, check back regularly, and stay tuned for the Am Law 100 and Second Hundred reports coming soon.
After Mass Exodus, FisherBroyles Charts Plan for Rapid Growth
After revenue and profits grew in 2023, the firm wants to reach a goal to add enough new partners to exceed last year's head count of almost 300 lawyers, despite the mass exit in early 2024.
Welcoming New Chair, Ballard Spahr Boasts Steady Revenue Alongside PEP Dip
"We outperformed in M&A," said Peter Michaud. "We have done that historically, where when the market sees a downturn in M&A, we'll still do well."TRENDING STORIES
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Revenue, Profit, Cash: Managing Law Firms for Success
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Law Firm Operational Considerations for the Corporate Transparency Act
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The Ultimate Guide to Remote Legal Work
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The Future of AI in Law
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