In the previous article of this series, we expressed profit margin (defined as operating income divided by revenue) in terms of revenue per lawyer (RPL) and cost per lawyer (CPL). We noted that 2018 profit margin at 40.03% was at the highest level in 30 years; and had been climbing steadily upwards from 2009. We examine here whether this upward trend can continue into next year? In other words, could Am Law 100 profit margin increase further from 2018 to 2019? And can 2019 exceed the record margin of 40.14% set in the very first year of the Am Law 100 publication in 1987?
Projecting 2019 Profit Margins
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