For the first time since 1991, both average profits per partner and revenue per lawyer dipped last year among Am Law 100 firms, the top-grossing firms in the United States. The downturn was widespread but not ubiquitous. On average, it was felt most acutely among the firms that we classify as New York, national and international -- and even in a down year, there were bright spots. Still, given the weakness in the market thus far in 2009, another decline seems likely this year.
Lessons of The Am Law 100: Nothing Grows Forever
The American Lawyer
April 29, 2009