Law Firm Profitability

International Edition

Lockdowns, Crackdowns and Continued US-China Tensions Hit China's Once-Soaring Law Firms Hard

By Jessica Seah | September 19, 2023

Chinese firm revenue plummeted despite growth in head count.

7 minute read

International Edition

The Year the Global 200 Law Firms Returned to Earth With a Bump

By Habiba Cullen-Jafar | September 19, 2023

This year's rankings show a challenged set of results across the board, with one leader saying: 'I don't think there's ever been a period that has been so 'hot, and then cooled down so quickly'.

9 minute read
International Edition

The 2023 Global 100 Ranked by Profits Per Equity Partner

By Law.com International Staff | September 19, 2023

The 100 largest law firms in the world saw profit decline on the back of several boom years.

1 minute read

International Edition

UK Top 50 Ranked by Revenue per Lawyer: Average Down 2%

By Habiba Cullen-Jafar | September 18, 2023

Like their U.S. counterparts, lawyers at the U.K.'s top commercial firms on average brought in less this year, with notable exceptions.

2 minute read
International Edition

UK Top 50 Ranked by PEP: Biggest Drop Since the Financial Crisis

By Habiba Cullen-Jafar | September 15, 2023

Many of the astronomical rises of the past couple of years have been 'corrected', with PEP at some firms dropping by as much as 55%.

4 minute read
International Edition

UK Top 50 Results: Are Cuts Looming? The Devil is in the Detail

By Krishnan Nair | September 14, 2023

This year's ranking contains several warnings—chief among them being the need for further corrective measures to address the shrinking profit margins.

4 minute read
International Edition

The UK Top 50 Ranked By Revenue: Turnover Rise Not Enough to Maintain Profit Levels

By Habiba Cullen-Jafar | September 14, 2023

Overall fee income growth at the UK's top firms outstripped the AmLaw 100 in 2023, but average partner profits fell at the worst rate since the financial crisis.

4 minute read
International Edition

Have Foreign Firms Lost Their Appeal for Lawyers in China?

By Jessica Seah | September 6, 2023

International firms are struggling to hire and domestic Chinese firms are growing at a much slower pace than just two years ago. With continued volatility in China, law firms aren't sure how to plan their growth and lawyers looking at the lateral market are wondering where they should go.

8 minute read
International Edition

Gateley After-Tax Profits Take 47% Hit After Recent Acquisitions

By Jack Womack | September 6, 2023

Staff bonus payments will not be paid out this year, with the firm citing 'the challenging economic back drop'.

2 minute read
International Edition

Big Law in September Will Raise Volume on Billing and Collections Push

By Andrew Maloney | September 5, 2023

Common billing reminders often begin in September, from managers asking partners in meetings to pledge what they think they're going to collect, to some managers going door-to-door in the office to discuss it.

5 minute read
Daily Business Review

A Real Estate Slowdown Depressed the Growth of Florida Law Firm Revenue, But an M&A Pickup Might Push It Up

By Alexander Lugo | February 1, 2024

"It was a more average type performance for the Florida-based firms this past year. They came off a really strong 2022, where they outperformed quite dramatically," Owen Burman, a Wells Fargo senior consultant, said.

3 minute read
The American Lawyer

Milbank Leaders Praise Non-Equity Partnership Tier Amid London Growth

By Jack Womack | February 1, 2024

The firm's famously high NQ pay is "indirectly demanded" by clients, London co-managing partner Andrej Wolf said.

4 minute read
The Legal Intelligencer

Aggressive Rate Hikes, Strong 4th Quarter Collections Drive 2023 Revenue Growth for Phila. Firms

By Amanda O'Brien | January 31, 2024

The six Philadelphia-based firms surveyed by Wells Fargo together increased revenues by 4.7%, compared to a nationwide average of 6.0%.

4 minute read
Daily Report Online

Alston's Finance Group Sees Success, in Both Revenue and Diversity

By Thomas Spigolon | January 30, 2024

Karen Gelernt and her successors in the Alston group stand out, as they are among the few female leaders of a structured finance practice in Big Law.

9 minute read
The American Lawyer

After Moderate Revenue Gains, Law Firms Plan for Growth in Both Deals and Litigation

By Andrew Maloney | January 30, 2024

"The mindset is toward growth as opposed to cutting, and that's a change over the last 18 months," Wells Fargo's Owen Burman said.

4 minute read
The American Lawyer

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

By Patrick Smith | January 29, 2024

The firm's 18.6% jump in PEP to $5.114 million occurred as Milbank saw a 51% expansion in its nonequity tier.

5 minute read
The American Lawyer

Will We See You? Join Law.com Pro Editors and Analysts at Legalweek NYC For Sessions Geared Toward Law Firm Strategy

By Gina Passarella Cipriani | January 28, 2024

Let's meet up in person Jan. 31 to dive into the future of law firm management. Come ready with questions for our experts as we bring Law.com Pro to life at Legalweek NYC.

4 minute read
Law.com

Where Are Big Law Billing Rates Growing the Fastest?: The Morning Minute

By Zack Needles | January 26, 2024

The news and analysis you need to start your day.

4 minute read
Law.com

In Partner Pay, Law Firms Are Under Pressure to Strike Right Balance

By Christine Simmons | January 25, 2024

In the race to increase profits and attract the best talent, law firms are now caught in a conundrum in adjusting partner compensation.

6 minute read
The American Lawyer

The Fully Human Lawyer: Value Beyond Numbers

By Lauren G. Krasnow | January 25, 2024

"Whether conversing with a leader who was facilitating their organization's decision-making or with an individual advocating for themselves, 'the numbers' always serve as the starting point," Lauren Krasnow writes. "However, as I remind my coaching clients, 'the numbers' never tell the whole story."

7 minute read

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