2020 RPL Growth-Southeast firms. (Creit: ALM) Revenue Per Lawyer Is the 'Holy Grail' of Firm Economics, but Southeast Firms Show the Metric's Anomalies
Organic growth occurs through a firm increasing rates and/or working more hours, possibly through increased billing by nonattorney timekeepers. Inorganic growth might result from the number of lawyers—the denominator in the RPL formula—decreasing, if the lawyers who remain handle the same volume of work.
May 13, 2021 at 04:35 PM
4 minute read
Each week the Southeast Takeaways team meets with analysts from ALM Intelligence, a unit of our company that collects and analyzes data about law firm economics (among many other things). Recently Patrick Fuller and Caitlin Kennedy from ALM Intelligence noted how the percentage rise in revenue per lawyer (RPL) among American Lawyer 100 firms based in the Southeast was higher than the national average.
This is important, because data experts like Fuller and Kennedy consider RPL among the most reliable indicators of a law firm's financial health. Yet the Southeast features several firms that illustrate where RPL can give a mixed view of what's happening in a firm.
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