Credit: Adrià Voltà The Am Law 100 Shared More of the Wealth in 2022, but It Won't Last For Long
Equity tiers saw a surprising rise among The Am Law 100 in 2022, but the industry doesn't expect a shift in leverage to continue.
April 18, 2023 at 10:03 AM
8 minute read
In an uneven year in which Big Law saw profits slide, some of the biggest firms also appeared to heed the words of Shelby Cullom Davis. A leading investor and former U.S. ambassador to Switzerland, Davis once observed: "You make most of your money in a bear market, you just don't realize it at the time." Indeed, the word "invest" was top-of-mind for many law firm leaders, particularly when it came to managing their equity partner ranks. Even as demand and profits fell in 2022, Am Law 100 firms increased their equity ranks by 1%, according to data compiled by Law.com Compass and The American Lawyer.
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