Law Firm Profitability

International Edition

US Law Firms Take the Lead in Revenue Per UK Lawyer Rankings

By Charlotte Johnstone | July 19, 2023

The top 30 law firms in the U.K., regardless of headquarters, ranked by their U.K.-only revenue per lawyer figures.

3 minute read

International Edition

Clifford Chance PEP, Profits Stall as Revenue Edges Past £2B

By Habiba Cullen-Jafar | July 19, 2023

The results come as the firm unveils a new four-year, core client-focused global strategy spearheaded by managing partner Charles Adams.

2 minute read
International Edition

Pinsent Masons Bucks Industry Trend as PEP, Revenues Rise

By Jack Womack | July 18, 2023

The results come as several other U.K.-based firms report flattening or falling profits, as firms grapple with rising wages and inflation.

2 minute read

International Edition

UK Law Firm Revenues are Up But Profits are Down. Why?

By Paul Hodkinson | Krishnan Nair | July 14, 2023

A look at the reasons why this phenomenon is occurring in the early financial results suggests a rapidly rising challenge in balancing the books, The London Lawyer argues.

4 minute read
International Edition

Simmons & Simmons Posts Double-Digit Growth as PEP Flatlines

By Charlotte Johnstone | July 13, 2023

The firm's managing partner Jeremy Hoyland discussed the firm's China focus and emphasised the importance of local U.S. firm relationships in maintaining its stateside business.

2 minute read
International Edition

Allen & Overy Managing Partner Exits Ahead of Merger, as Revenue Surpasses £2 Billion

By Jack Womack | July 13, 2023

Gareth Price has stepped down 'for personal reasons', the firm announced in its financial results, as the firm prepares to vote on its highly anticipated merger with Shearman & Sterling later this summer.

3 minute read
International Edition

Will Debevoise Always Have Paris?

By Anne Bagamery | July 12, 2023

Rumors swirl after the exits of Brown Rudnick and Davis Polk, but Debevoise says its small presence in Paris plays a big part in its global strategy.

6 minute read
International Edition

'Rates are Getting Crazy': General Counsel Intensify Calls to Overhaul the Billable Hour

By Tom Parry | July 12, 2023

As charge-out rates rocket alongside inflation and interest rates, top in-house lawyers say that the need to revolutionise the billable hour model is more urgent than ever.

9 minute read
International Edition

Ashurst CEO Dampens US Merger Speculation Amid Flat Profitability

By Jack Womack | July 12, 2023

Despite a 10% revenue increase, profit per equity partner remains practically unchanged.

2 minute read
International Edition

Extravagance in Asia: In Choosing Asia Over the US, What Is Mishcon's Game Plan?

By Jessica Seah | July 10, 2023

"Economic hegemony" is shifting toward Asia, says Mishcon executive chair Kevin Gold.

5 minute read
Pro Mid Market

4 Growth Drivers in the Mid-Market 50 This Year

By Dan Roe | December 29, 2023

The Mid-Market 50, a ranking of the highest-grossing midsize law firms in the country, outperformed the fourth tier of the Am Law 200—law firms ranked 176 to 200 nationally by gross revenue—in several financial growth metrics.

5 minute read
The American Lawyer

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
Law.com

Top Litigation Trends of 2023: The Morning Minute

By Zack Needles | December 29, 2023

The news and analysis you need to start your day.

4 minute read
The American Lawyer

In 2023, Group Lateral Moves Proved Economy-Proof as Firms Advanced Strategic Growth

By Justin Henry | December 29, 2023

"The big group moves are driven by the stars that are part of those groups," said Macrae recruiter Justine Donahue. "The high rainmakers can command a group to move with them based on their clients and their brand name."

5 minute read
The American Lawyer

Clifford Chance Top Earner Pockets Less as Staff Numbers, Costs Swell

By Habiba Cullen-Jafar | December 28, 2023

The firm's total number of partners and staff costs rose, as it continued to grapple with its pension liability, the latest LLP accounts show.

3 minute read
The American Lawyer

Law Firms Seek Flexibility in Revised Partner Comp Systems, Balancing Seniority With Productivity

By Justin Henry | December 28, 2023

Though firms have different approaches, the momentum in partner compensation is heading toward merit-based rewards to compete for rainmakers and grow profitability.

9 minute read
The American Lawyer

Big Law Isn't Big In Raleigh, as Region's Start-Ups Prioritize Rate Flexibility

By Justin Henry | December 15, 2023

"I've worked with firms who find it difficult because they want the partners to charge X rate and they would lose a third of their business," said Charlotte-based Jordan Abshire, founder and managing member of Abshire Legal Search.

8 minute read
Daily Report Online

Big Law Isn't Big In Raleigh, as Area's Start-Ups Prioritize Rate Flexibility

By Justin Henry | December 15, 2023

"I've worked with firms who find it difficult because they want the partners to charge X rate and they would lose a third of their business," said Charlotte-based Jordan Abshire, founder and managing member of Abshire Legal Search.

8 minute read
New York Law Journal

Recruiting and Retaining Talent: Advantages of a Two-Tier Partnership Structure

By Miten Shah | December 14, 2023

While the one-tier partnership model ruled for a long period of time, today's competitive challenges exposed its limitations, particularly in terms of talent recruiting and retention, as well as client acquisition.

7 minute read
The American Lawyer

While Polsinelli Had a 'Lighter' Year in 2023, Firm Grew Profits 13%

By Andrew Maloney | December 14, 2023

The firm reached $856 million in revenue, and more than $1.9 million in average profits per equity partner, as its equity ranks stayed flat.

5 minute read

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