Compared to The Am Law 100, the financial gains posted by Second Hundred firms in 2010 were anemic. While the nation's 100 highest-grossing firms rebounded from a disastrous 2009 by posting healthy gains in 2010--a 4 percent increase in gross revenue, a 4.4 percent rise in revenue per lawyer, and an 8.4 percent pop in profits per partner--gains at the Second Hundred were less robust. The Second Hundred's total gross revenue rose 2.2 percent, to $17.46 billion in 2010 from $17.08 billion in 2009, while average revenue per lawyer increased just 1.5 percent, to $579,749 from $570,999. Average profits per partner rose 3.4 percent, to $665,665 from $643,580. So why aren't they worried?
 |
| INFOGRAPHIC: Click here for an interactive chart comparing The Am Law 200 firms to those in The Am Law 100, based on four key metrics of law firm economics. |
THE CHARTS
Gross Revenue (Free)
Revenue Per Lawyer (Top 20 - Free)
Revenue Per Lawyer (Full Chart)
Profits Per Partner (Top 20 - Free)
Profits Per Partner (Full Chart)
Compensation - All Partners (Top 20 - Free)
Compensation - All Partners (Full Chart)
Value Per Lawyer (Top 20 - Free)
Value Per Lawyer (Full Chart)
THE FEATURES
Their recovery may be weaker than The Am Law 100s, but Second Hundred firms say it's all part of a plan.
By Victor Li
Despite the recovery, market forces are combining to create unprecedented challenges for Am Law 200 firms. Get ready to make some tough decisions.
By Aric Press
By Aric Press
METHODOLOGY
The Am Law Second Hundred is reported by staff members at ALM's publications throughout the United States, including The American Lawyer, The Connecticut Law Tribune, Daily Business Review (Miami), Fulton County Daily Report (Atlanta), The Legal Intelligencer (Philadelphia), The National Law Journal/Legal Times, New Jersey Law Journal, New York Law Journal, The Recorder (San Francisco), and Texas Lawyer.
Most law firms provide their financials voluntarily for this report. Some choose not to cooperate, so we make estimates based on our reporting. But all data is investigated by our reporters. In the event that an error in reporting a previous year is discovered, we will correct the numbers and base the percentage changes in future years on restated numbers.
For the complete methodology, click here.
