It could have been worse. That’s the best that can be said for the performance last year of The Am Law 100, the top-grossing law firms in the nation. Three of the four key categories we’ve measured for 25 years–gross revenue, head count, and revenue per lawyer–fell, while profits per equity partner (PPP) barely increased by 0.3 percent, or $3,463, to $1.26 million.
But on average, even the bad results weren’t nearly as dire as many firms had feared just a year ago.
For the first Time since 1994, Baker & McKenzie surpassed Skadden, Arps, Slate, Meagher & Flom for the number one position on our gross revenue chart.
Revenue Per Lawyer
The downward trend continued for Am Law 100 firms in 2009 as more than half posted drops in revenue per lawyer (RPL), our best measure of a firm’s financial health.
Profits Per Partner (Top Ten)
Sixteen Am law 100 firms had profits per partner (PPP) of $2 million or more in 2009, the same number as in 2008.
Compensation – All Partners (Top Ten)
The average pay for a firm’s entire partnership, both equity and nonequity; in 2009, 42 Am Law 100 firms posted declines in CAP.
Value Per Lawyer (Top Ten)
Value Per Lawyer ranks firms by how efficiently they generate profits. For the fifth year in a row, Wachtell, Lipton, Rosen & Katz tops our list.
The Firms A to Z
An alphabetical listing of the firms on The Am Law 100.
The Profitability Index
The profitability index looks at a firm’s ability to convert revenue into profits.
Profits Per Partner (Full Chart)
Two firms fall below $2 million.
Compensation – All Partners (Full Chart)
For the second year in a row, average CAP for The Am Law 100 as a whole dropped, falling 2 percent, to $944,612.
Value Per Lawyer (Full Chart)
The metric is intended to calculate how much, on average, each of a firm’s lawyers contributes to total partner compensation.