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The 2013 Am Law 100
The American Lawyer
Well, now we know which firms were swimming naked after all. In fiscal 2012, The Am Law 100which welcomes new members Bracewell & Guiliani; Faegre Baker Daniels; Fragomen, Del Rey, Bernsen and Loewy; McKenna Long & Aldridge; and Ogletree, Deakins, Nash, Smoak & Stewartposted modest gains on all our key metrics. For gross revenue, revenue per lawyer, and profits per partners, the top 100 firms notched low single-digit year-over-year increases. But those averages belied the recovery's unevenness. Only 76 firms reported gross revenue increases last year. And only 66 had profit per partner increasesdown from 80 firms and 72 firms, respectively, on last year's Am Law 100 list. The lucky ones tended to have an international footprint, a strong transactions group, and a diverse set of practice areas, though boutique labor and employment and immigration firms also fared well. For those fortunate firmsand for the rest of The Am Law 100the challenge will continue to be balancing growth against keeping expenses in check. After a lengthy recession and a fitful recovery, that's a nice problem to have.
Previous Am Law 100 coverage :: 2012 | 2011 | 2010 | 2009 | 2008 | 2007
INFOGRAPHIC: Click here for an interactive chart of four key metrics of law firm economics.
Gross Revenue: A New Number One
Revenue Per Lawyer: A Modest Upturn
Profits Per Partner: Profits Increase Moderately
Compensation - All Partners: Partner Pay Rises, Unevenly
Value Per Lawyer: Wachtell On Top Again
The Ten Year View
The Am Law 100's modest gains hint that a fundamental recovery is taking root.
How an unlikely leader rose to the top at Kirkland & Ellis.
How DLA Went Global
An interactive look at the ancestral history and international reach of The Am Law 100's new top-grossing firm.
Striking It Rich
A contingency award from a Native American royalties rights case fuels Kilpatrick Townsend & Stockton's 36.5 percent boost in profits per partner.
No Pain at the Pump
Energy work helps drive a double-digit gain in profits per partner at Bracewell & Giuliani.
Job one for Dorsey & Whitney's new management: reversing five years of declining profits.
Playing the Visa Card
With head count up sharply, immigration shop Fragomen, Del Rey, Bernsen & Loewy moves onto The Am Law 100.
A Blow to the Bottom Line
Profits drop sharply at Fried, Frank, Harris, Shriver & Jacobson as gross revenue falls 6.3 percent.
In the wake of its breakup with Lorillard, Shook, Hardy & Bacon's profits dive.
A charter member of The Am Law 100, Chadbourne & Parke falls to the Second Hundred.
This package originally appeared in The American Lawyer.