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As Equity Tiers Shrink, Big Law Grows Leverage
While some law firms may have increased leverage to boost profitability, firms may also change leverage because they need more associates to assist with complex cases, noted a law firm consultant.
Showcasing Resilience of the Industry, Am Law 100 Firms Turn in Strong 2023
After taking a couple of body blows in 2022 and not knowing how the legs would hold up, Big Law was just waiting to counter.
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.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.
Nelson Mullins Launches in Houston, Adding 10 Lawyers From 5 Law Firms
Nelson Mullins Riley & Scarborough, which opened in Dallas in 2022, has added an office in Houston as the firm focuses on expanding its energy team.
Paul Hastings, Nelson Mullins Broker Deal to Take Trump-Backed Truth Social Public
The newly public entity trading as Digital World saw its stock price jump 15% on Tuesday, providing a $4.5 billion valuation for Trump's stake.
Diversity of Practices Helped Foley Grow Revenue by 8.1%, Profits Per Equity Partner by 11.5%
The firm posted higher revenue and profits, even as its lawyer head count was steady in 2023.TRENDING STORIES
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