Am Law 100 Reaches New Heights on Year of Near Universal Growth
Apr 23, 2019
Legal Newswire POWERED BY LAW.COMThe American Lawyer Publishes its 32nd Annual Ranking of 100 Highest-Grossing Law Firms
New York, NY - April 23, 2019 — The American Lawyer has released the 2019 Am Law 100 data, providing a detailed look at the financial health of an industry that in 2018 continued to show significant gains in key financial metrics.
This year’s Am Law 100 data shows gross revenue grew 8 percent on average, net income increased by 7.8 percent, profit per equity partner grew by 6.5 percent, revenue per lawyer moved up 4.2 percent, and head count rose 3.6 percent.
The 2019 Am Law 100 data, along with several articles analyzing the results, will be made available in the May 2019 print issue of The American Lawyer, and online at https://www.law.com/americanlawyer/. In June 2019, The American Lawyer will publish its rankings of the second hundred largest firms. Since its introduction in 1987, the Am Law 100 has been the definitive public ranking of financial performance for the country’s largest law firms.
“The 2019 Am Law 100 report, which tracks law firm financial performance for the fiscal year 2018, showcases an industry nearing pre-recession growth rates in key financial metrics,” said Gina Passarella, Editor-in-Chief of The American Lawyer and ALM’s Global Legal Brands. “After a record year in 2017, the Am Law 100 took progress a giant step further, outpacing gains in all core financial metrics, thanks in large part to increased demand in corporate and litigation matters, the ability to push through greater rate increases and, for some, growth via merger. The biggest difference in 2018 was that more firms than ever shared in that success, as the stratification of the top 100 was less severe.”
ALM Intelligence assisted in compiling the Am Law 100 data with the use of Legal Compass and provided analysis in conjunction with The American Lawyer for it’s May issue.
"This year’s Am Law 100 data sends two, slightly diverging, stories,” said Nicholas Bruch, Principal Analyst at ALM Intelligence. “On one hand, law firms had their best year since the downturn. This is a welcome change from what has been a difficult decade for many law firms. On the other hand, law firm performance this year doesn’t match what we would expect at this late stage in an economic cycle. Ten years into an economic expansion we would expect higher growth rates and bigger improvements in profitability from the Am Law 100. The fact that we are not seeing the performance at that level suggests firms are still facing headwinds from new competitors and pushback from clients. This suggests firms should celebrate their successes over the past year while, at the same time, preparing for challenging market conditions going forward.”
To request access to the Am Law 2019 data, please visit: at.alm.com/2019amlaw100
About the Am Law 100
The American Lawyer’s Am Law 100 has been recognized as the definitive public ranking of financial performance for the nation’s largest law firms since its introduction in 1987. (The Am Law 50 was introduced in 1985 and the Am Law 75 was first published in 1986.) Am Law 100/200 metrics are primary benchmarks for law firms seeking to assess their competitive position in the marketplace.
About ALM Intelligence
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