By aggressively cutting costs, The Am Law 100 eked out a small increase in profits. But the tough choices are just beginning. Aric Press and Greg Mulligan report
It could have been worse. That’s the best that can be said for last year’s performance from The Am Law 100, the top-grossing law firms in the US. Three of the four key categories that have been measured for 25 years – gross revenue, headcount and revenue per lawyer (RPL) – fell, while profits per equity partner (PEP) barely increased by 0.3% – up $3,463 (£2,300) to $1.26m (£840,000).
