Milbank offices. (Photo: Ryland West/ALM) Milbank's Revenue Jumps 18% as Profits Soar 19% and Nonequity Tier Grows
The firm's 18.6% jump in PEP to $5.114 million occurred as Milbank saw a 51% expansion in its nonequity tier.
January 29, 2024 at 05:00 AM
5 minute read
Law Firm Profitability
What You Need to Know
- Milbank shoots for the moon, with 17.8% revenue growth, 18.6% PEP growth.
- Chair Scott Edelman said the success was a collective effort from several practices, including its growing PE practice.
- The firm has expanded its nonequity tier, designing it as a stepping stone, instead of a holding station.
Milbank, the law firm that spurred the latest associate salary hike, grew its revenue by 17.8% to $1.514 billion in 2023 while its profits per equity partner jumped 18.6% to $5.114 million—a record year for the firm.
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