X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Top Washington law office revenues are on the rise, a reversal from two years earlier when the gross revenue of Washington-area law offices fell for the first time in more than a decade. During 2011, the 25 highest-grossing D.C. offices collectively hauled in $6.14 billion, according to The National Law Journal D.C. 25 survey, our ranking of the top money-makers among Washington-area law offices. That’s a 3.9 percent increase from the $5.91 billion collected in 2009, the last time we conducted the survey. During that same period, revenue per lawyer grew from $897,000 to $927,000, an increase of 3.3 percent. Arnold & Porter pulled in the most D.C.-area revenue last year—$423 million. That places it ahead of Hogan Lovells, which led the list two years earlier. King & Spalding and Jones Day are new additions to the chart, replacing O’Melveny & Myers and the now-defunct Howrey. Arnold & Porter chairman Thomas Milch said the firm was able to remain busy over the last couple of years mainly through its work in the areas of antitrust, telecommunications, environmental and health care law. “There was no single matter that did it for us,” he said. “People are working more efficiently and working harder and that is translating to more reasonable performance in gross revenue,” said Matthew Clark, Arent Fox’s managing partner. “Rate increases have been modest and summer-associate classes are smaller than they were years ago.” Clark said many of the firm’s groups that performed well were focused in Washington, including practices like intellectual property, patent and trademark and health care. “Our government-relations practice continues to succeed where business has a nexus with the federal government and Congress.” Anthony Pierce, the partner in charge of the Washington office of Akin Gump Strauss Hauer & Feld, said traditional Washington practices such as lobbying and government contracts remain key to driving firms’ fortunes. “The law firms that anticipate where the government is going in its regulatory or investigative focus and what activity is going to happen in Congress are going to do well,” he said. “If you’re a firm that can’t meet those needs and anticipate them well, you’re going to have a tough time.” Mary Young, a legal consultant with the Zeughauser Group, attributed the rise in gross revenue to a decline in headcount. “What you’re seeing is that firms are tightening the ranks,” Young said. “The people that are left tend to be more productive.” Couple that with modest rate increases, she said, and it helps to boost firm revenues. Young said that, despite the trimming among ranks, revenue will continue to remain strong given that clients continue to pay top dollar for experienced first-chair litigators, transactional gurus and the like. “Clients are willing to pay well above $1,000 an hour for those people and those rates continue to go up,” she said.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2017 ALM Media Properties, LLC. All Rights Reserved.