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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.
A Safe Bet? Lateral Hiring and Gambling on a Firm's Future
Lateral hiring is risky business. The Global Lawyer asks, is the gamble worth it?
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.
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 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.
Ogletree Deakins Rebounds, Seeing Revenue and Profit Growth Amid Strong Employment Practice Demand
Firm leader Liz Washko said "the largest part" of the revenue increase could be attributed to demand remaining strong and lawyers "working harder" after its hours billed increased 6.7%.
Looking Back at the Law Firms That Didn't Survive 2023
From Stroock to Schnader, firms that failed struggled with common issues of recruitment, retention and financial obligations.
Big Law Isn't Big In Raleigh, as Region's Start-Ups Prioritize Rate Flexibility
"I've worked with firms who find it difficult because they want the partners to charge X rate and they would lose a third of their business," said Charlotte-based Jordan Abshire, founder and managing member of Abshire Legal Search.TRENDING STORIES
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Law Firm Operational Considerations for the Corporate Transparency Act
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