In a rare occurrence driven in part by the rapid turning of economic tides in 2022, the Am Law 100 was outpaced in various financial growth metrics by the firms in the Am Law Second Hundred. The firms ranked #101-200 as a whole grew revenue (4.1% to 2.7% in the Am Law 100) and revenue per lawyer (1.5% to -1.9%) at a faster pace than their larger counterparts, all the while increasing attorney headcount less (2.6% to 4.7%).
The firms within the Am Law Second Hundred had offices in 46 states & Washington, DC in 2022, along with international offices in 18 other countries. In total, these firms increased attorney headcount by 2.6% to 30,529 full-time equivalent lawyers in 2022, but diving deeper and looking at where they added headcount sheds some light on this cohort’s growth strategy.
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