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Emerging from the pandemic, midsize firms benefited from several years of discretion and resourcefulness as many outpaced larger peers that service similar clients.While the fourth tier of the Am Law 200 posted an average headcount gain of 4% and 4.2% higher revenue, the Mid-Market 50 firms averaged 13% revenue growth with a 3.4% headcount increase. Revenue per lawyer in the Mid-Market 50 rose 8.7% on average compared to roughly flat RPL among the fourth tier firms.As we prepare to collect data on midsize firms' 2023 financial performance, we reviewed some of the biggest drivers of midsize firm success in 2022.
Legal Services
December 29, 2023, 9:55 AM