X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

calculators

Last year finished out strong for the law firm industry, outpacing 2016 on revenue and profit growth. Stronger revenue growth came from comparatively higher billing rate increases and improved demand, especially during the fourth quarter. And while expense growth matched revenue growth, keeping margins steady, net income growth was a solid 4.5 percent. With a slight drop in equity partner headcount, that translated into growth of profits per equity partner of 4.8 percent. More good news could be found in strong year-end inventory levels, suggesting positive momentum for the first-quarter of 2018. That said, we continued to see dispersion in performance, with the Am Law 50 firms far outperforming the rest of the Am Law 200.

This content has been archived.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Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.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

 

Law Firm Accounting and Financial Management (Sixth Edition)Book

Accounting experience not required! Whether you are a partner, an executive director, or a law firm CFO, Law Firm Accounting and Financial Management helps you m...

Get More Information
 

The Competitive Landscape is Changing

Where are competitors expanding? What practices are growing or shrinking, and where? Get the latest reports on lateral moves, liftouts, promotions, and more by accessing ALM's Legal Compass. Don't have a subscription? Click to get a free trial.

Get More Information
 

Global Independent Law Firms Forum 2020Event

Annual conference bringing together the leaders of independent law firms from around the world, from 40+ jurisdictions.

Get More Information
 

The Asia Legal Awards 2020Event

Where the region's top lawyers, law firms and in-house teams will gather to celebrate their most stellar achievements of the year.

Get More Information
 

The Asia Legal Awards 2020Event

Where the region's top lawyers, law firms and in-house teams will gather to celebrate their most stellar achievements of the year.

Get More Information
 
 

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 © 2019 ALM Media Properties, LLC. All Rights Reserved.