In a turbulent 2011, the largest US firms managed to edge ahead of smaller rivals and make ground on the Wall Street elite. Robin Sparkman reports
All the key financial metrics for The Am Law 100 rose by single digits last year: gross revenue, revenue per lawyer (RPL), and profits per equity partner (PEP). Eighty-three firms posted revenue gains – 25 more than in the previous year. And the terrifying days of mass layoffs seemed to be over – firms reversed course and added to their headcount. Even equity partners, who sometimes seem like an endangered species, grew their ranks on average after two years of flat or negative growth.
