Law Firm Profitability

International Edition

Hogan Lovells Rebounds in 2023 With Most Profitable Year in History

By Justin Henry | February 13, 2024

The global firm brought in $2.68 billion in revenue, which translated into $2.74 million in profits per equity partner.

6 minute read

International Edition

Law Firms Witnessed a 'Return to Profit Growth' in 2023

By Justin Henry | February 9, 2024

After profits per equity partner dipped by 5.7% in 2022, they climbed by 6.6% in the last year, according to data from Citi's Global Wealth at Work Law Firm Group.

5 minute read
International Edition

Freshfields Takes On Bank Debt for First Time Since at Least 2009

By Charlotte Johnstone | Habiba Cullen-Jafar | February 6, 2024

The near-£90 million of debt listed in its LLP accounts coincides with a 39% surge in its US revenues. Meanwhile, both Freshfields and Ashurst have dipped into their cash reserves.

4 minute read

International Edition

Milbank Leaders Praise Non-Equity Partnership Tier Amid London Growth

By Jack Womack | February 1, 2024

In an interview with Law.com International, London co-managing partner Andrej Wolf said the firm's famously high NQ pay is "indirectly demanded" by clients.

4 minute read
International Edition

Milbank's Revenue Jumps 18% as Profits Soar 19% and Nonequity Tier Grows

By Patrick Smith | January 29, 2024

The firm said its London office revenue grew 9.7% to $233.8 million in 2023. And its revenue in all of Europe increased by 16.5% from 2022, with its offices in Germany seeing a particularly good year.

5 minute read
International Edition

A 'Sweatshop'? Lawyers Detest Law Firm Cultures That Emphasize Profitability

By Andrew Maloney | January 23, 2024

"Profit-mindedness" was identified as the top law firm culture trait that inspires lawyers' negative feelings toward their firms.

5 minute read
International Edition

Paul Weiss Hides Partner Pay Inside 'Black Box,' as Firm Shells Out for Top Laterals

By Justin Henry | January 11, 2024

The adoption of a nontransparent pay system comes as firm leaders seek to reduce internal tensions as the spread of compensation expands.

3 minute read
International Edition

Clifford Chance Eyes Lockstep Change to Better Reward Star Performers

By Krishnan Nair | January 10, 2024

With star talent exiting the firm recently, the anticipated change is expected to help it to retain its strongest performers in an increasingly monied hiring market.

3 minute read
International Edition

Quinn Emanuel London Revenue Leaps 47% as Profits Swell

By Charlotte Johnstone | January 10, 2024

The firm's London senior partner, Richard East, said that the year's success was 'boosted by a material one-off success fee'.

2 minute read
International Edition

Eversheds Top Earner Pay Surpasses £3 Million, LLPs Show

By Jack Womack | December 29, 2023

The US arm of the firm has also made eight promotions across its American offices.

2 minute read
The American Lawyer

Amid Partnership Expansion, Paul Hastings Sees Double-Digit Boost in Profits and RPL

By Patrick Smith | February 22, 2024

Paul Hastings' equity tier grew by 2% while its nonequity tier surged by 14%.

5 minute read
National Law Journal

As Firm Expenses Grew by $15M, Vorys' Revenue Rose but Profits Declined

By Abigail Adcox | February 22, 2024

The firm's expense growth was driven by investments in new ancillary businesses, as well as overhead for new firm offices, lawyer compensation and inflation, said Michael Martz, Vorys managing partner.

3 minute read
The American Lawyer

McDermott Sees 13% PEP Rise as Revenue Continues Steady Growth

By Patrick Smith | February 22, 2024

The firm's revenue growth last year was slower than in recent years, but McDermott Chair Ira Coleman said the firm's concept of "institutional health" was the larger focus.

5 minute read
The American Lawyer

Consistent Demand and Increased Rates Help Dorsey Edge Closer to $500M Mark

By Andrew Maloney | February 21, 2024

Dorsey wouldn't close the door on any merger opportunities, said managing partner Bill Stoeri, but adding he's probably more amenable to group laterals and smaller firm acquisitions.

5 minute read
The American Lawyer

Quinn Emanuel's 38% PEP Growth Came From Heightened Leverage, High-Profile Cases

By Justin Henry | February 21, 2024

Roughly 8% of the firm's $2.07 billion in revenue came in the form of contingency fees, according to Michael Carlinsky, one of three co-managing partners at the firm.

4 minute read
Daily Report Online

Bradley Arant Sees Revenues Rise and PEP Fall Amid 12% Equity Partner Expansion

By Thomas Spigolon | February 21, 2024

The firm's PEP dropped by 5% to $820,000, as its equity tier expanded and its nonequity tier shrunk by 9%, bucking a trend in the industry of growing the nonequity ranks.

5 minute read
The American Lawyer

Faegre Drinker Rebounds From 2022 With Double-Digit PEP Growth

By Amanda O'Brien | February 21, 2024

"We saw these huge gains in litigation, including product liability, intellectual property, class actions, appellate work," said Chair Gina Kastel, who is close to completing her first year in the role.

4 minute read
Texas Lawyer

Revenue Up 11.2%, PEP Up 22.1% at Akin, as Aggressive Hiring Pays Off

By Brenda Sapino Jeffreys | February 15, 2024

Chairperson Kim Koopersmith said Akin Gump Strauss Hauer & Feld's record year is due to strategic hiring in important practices.

5 minute read
The American Lawyer

Big Law Is Aggressive With Rates. Should Midsize Firms Follow?

By Dan Roe | February 15, 2024

As Big Law keeps getting rewarded for pushing large rate hikes, analysts and consultants say midsize firms are leaving money on the table.

7 minute read
Litigation Daily

The Buzzword All Over the Early Am Law Returns: Litigation

By Ross Todd | February 15, 2024

Quinn Emanuel and Jenner & Block—two of the most litigation-centric in the Am Law 100—have posted some of the strongest financial numbers for 2023 reported so far.

4 minute read

Previous Previous
1
2
3
4
5
6
7
8
9
10
…
106
Previous

Featured Employers

Spotlight Job

M&A Partner - leading City Firm

This leading international firm has been a massive success story in recent years. Growth of the Corporate practice, with a number of key market leading partner hires, has further increased the workstr...

Signium

London, Greater London, United Kingdom

More From ALM

Are you managing NDAs with the speed and precision the market demands? Download this guide to learn about the most important terms in private equity NDA to help streamline your workflows.

The Top 10 Terms in Private Equity NDAs

Brought to you by Ontra
Download Now

As private equity fund managers, remaining compliant on every front is critical as the SEC continues to intensify enforcement efforts and propose reforms. Learn how to improve your compliance and face your biggest risks head on in this guide.

Top 10 Compliance Concerns for Private Fund Managers

Brought to you by Ontra
Download Now

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Team Accounts

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

From Data to Decisions

Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.

Exclusive Depth and Reach.

Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.

Big Pictures and Fine Details

Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.