The Am Law 100 improved its financial position in 2011, and the big winners were the firms at the top of the list. Read the complete package.
May 01, 2012
Thank you for sharing!
Your article was successfully shared with the contacts you provided.
All the key financial metrics for The Am Law 100 rose by single digits last year: gross revenue, revenue per lawyer, and profits per partner. Eighty-three firms posted revenue gains—25 more than in the previous year. And the terrifying days of mass layoffs seemed to be over: Firms reversed course and added to their head count. Even equity partners, who sometimes seem like an endangered species, grew their ranks on average after two years of flat or negative growth. But as a rule, income inequality continued to plague the rankings. Both The Am Law 50 and The Am Law 51–100 reported 6 percent increases in gross, to totals of $50.9 billion and $20.1 billion, respectively. But the Fabulous 50 kept more of that money for their partners. This group posted average profits per partner of $1.6 million last year—a 4.8 percent jump—versus The Am Law 51–100′s 1.4 percent PPP rise, to $1.1 million.
As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters.
Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss.
Tailored just for you. In your inbox. Every day.