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In the years following the Great Recession, the Big Law market is often understood as one where revenue growth is rare. That’s just not true. While the market has changed since pre-2008, many firms have proven that it is still possible to experience growth in gross revenue. Moreover, firm leaders take note: there is more than one way to achieve that outcome.

ALM Intelligence analyzed law firm financial data for 180 firms (including some that were the result of mergers) that were ranked within the Am Law 200. The time period spanned 2010 to the present, i.e., each year following the global financial crisis (hereinafter, the Consistent Am Law 200 Firms). The findings reveal that nearly 87% have achieved positive compound annual growth (CAGR) in gross revenue (Figure 1 below). More impressively, nearly 25% of the Consistent Am Law 200 Firms experienced strong revenue growth, defined as a CAGR in the high single digits to double digits, while 31% reached growth in the mid-single digits. This has all been achieved at a time when the U.S. economy has grown at approximately 2% per year.

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