Credit: Knut/Adobe Stock More Big Law Firms Are Crossing Financial Milestones. How Much Do They Care?
Several law firm leaders have said they are often more concerned with per-lawyer or per-partner thresholds, compared with top-line milestones.
March 22, 2024 at 03:55 PM
5 minute read
Law Firm Profitability
The original version of this story was published on The American Lawyer
What You Need to Know
- Firms may be more keenly focused on growth than ever. Yet it's the per lawyer financial milestones that arguably help them attract talent and boost prestige.
- Additionally, there's often more emphasis on a firm's long-term trajectory than annual metrics.
- 'We brought in great groups of great lawyers with great practices. And in a way, profits per partner and revenue per lawyer [gains] are a measure of that.'
An increasing number of large law firms are reaching new financial milestones, including Kirkland & Ellis crossing the $7 billion point in gross revenue and other Am Law 100 law firms crossing the $1 billion or $2 billion mark.
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