Large law firms based in Chicago that are just outside the Am Law 100 posted gains in profits and revenue per lawyer in 2020. But most saw declines in gross revenue and lagged the average growth of their peers across the country during a year characterized by the COVID-19 pandemic.
The American Lawyer this week released the financial results of the second half of the Am Law 200. Five firms in the Second Hundred that already call the Windy City home—Vedder Price, Chapman and Cutler, Dykema Gossett, Hinshaw & Culbertson and Schiff Hardin—averaged a 3.1% decrease in gross revenue. In other metrics, they averaged an increase of 8.5% in profits per equity partner and a 1.1% boost in revenue per lawyer.