The Am Law 200 reversed course in 2016, posting gains in gross revenue after experiencing a decline in 2015. But that average gain of 1.2 percent, coupled with similar increases in revenue per lawyer and profits per equity partner, masked some weakness in many firms’ results. As our overview story shows, a “hollow middle” is emerging.
FEATURES AND ANALYSIS
Clients are willing to pay high rates for high-end work and seek bargain-basement prices for commodity work, but there is less of an appetite for anything in between, our Am Law 200 results show.
How Kobre & Kim turned a unique business model into a high-grossing firm.
ALM Intelligence senior analyst Nicholas Bruch breaks down the Am Law 200 results.
Dictate change so change doesn’t dictate you.
How we report law firm financials.
The Second Hundred rebounded from 2015, growing revenue 1.2 percent in 2016. Seven firms saw double-digit increases in gross revenue, while another seven saw double-digit declines.
By the Numbers
Our analysis of the Am Law 200 results, broken out into some fascinating data points.
Profits Per Equity Partner
The Second Hundred grew PPP 1.6 percent in 2016, an improvement from essentially no growth the year before. But the group was bested by The Am Law 100, which grew the metric 3 percent. Here is a ranking of all 200 firms by PPP.