For the Am Law 200, 2021 was an anomaly. In a short-term sense, broad-based demand increases drove the best year in revenue and profits since the financial crisis. Gross revenue rose 9.1% as the group’s total head count grew by 1.3%. Revenue per lawyer was up 7.7%, and profits per equity partner climbed 11.8%.
Meanwhile, associates enjoyed significant salary increases and most partners saw draws that made up for any losses they sustained in 2020—or compounded their gains. Rolling into 2022, demand hasn’t let up even as deal flow slows down, and most firm leaders with a decent balance of deal lawyers and litigators will tell you they have the countercyclical staffing necessary to make good on the next downturn.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]