Even as lawyer ranks continue to slim at Baker Botts, revenue at the Houston-founded firm improved by 4% in 2022—hitting the firm’s second-highest mark ever—and with fewer lawyers and equity partners, revenue per lawyer (RPL) improved by 12% and profits per equity partner (PEP) swelled by 28.3%.

“We had a great year,” managing partner John Martin said. “Our financial progress as reflected in the numbers is the culmination of a multi-year renewal of the law firm. In 2019 we adopted our new strategic plan and we’ve been working on executing that strategy.”