Consistent, incremental growth is the name of the game for Wilmer Cutler Pickering Hale and Dorr. Following a year when revenue, net income and profits per equity partner grew despite a 6.7% increase in head count and the hiring of 10 equity partners, co-managing partner Robert Novick is nearly as eager to talk about the firm’s 7% compounded annual growth rate in PEP over the past decade.

Wilmer’s financial success in 2022, including a 3.7% increase in gross revenue, 2.7% more net income and 0.6% more PEP, although revenue per lawyer fell 2.9%, is emblematic of the firm’s disciplined management style, said Novick, noting that profit margins stayed above 50% in a market where competitors are sacrificing profitability for scale.