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When it comes to law firm profits, the richest firms are breathing increasingly rarefied air. But despite eye-popping numbers at the top last year, growth in Am Law 100 profits was actually, for once, more egalitarian.

The American Lawyer’s early reports on 2018 financials showed Kirkland & Ellis and Paul, Weiss, Rifkind, Wharton & Garrison surpassing $5 million in profits per equity partner, and more firms reaching $4 million than ever before. A full 20 firms last year registered at least $3 million in PEP, up from 16 a year ago. Welcome to the club Fried, Frank, Harris, Shriver & Jacobson; Debevoise & Plimpton; Paul Hastings; and Weil, Gotshal & Manges.

But the celebration isn’t limited to those firms. The growth in wealth among the Am Law 100 last year was more evenly distributed than in recent years, buoyed by arguably the healthiest market for Big Law services since the Great Recession.

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