The Am Law 50—the 50 largest U.S.-based firms by revenue—is a tranche that in and of itself has a limited meaning. But it’s a place where many lawyers and law firm leaders aspire to be.
The Am Law 50 could be the Am Law 36 or the Am Law 54—in some ways, the demarcation line is where it is because it’s a nice round number. But having the financial output that categorizes those 50 firms is, by most measures, a sign of success. Am Law 50 firms outpace those just below them in terms of market share, profitability and even prestige in the market.