Robert Hays, chairman, King & Spalding. (Photo: John Disney/ALM) King & Spalding Sees PEP Spike 12% Amid 'Solid and Even Demand' Growth
"The reality is they worked harder. The head count didn't grow, but the work did," said Robert Hays, speaking on the firm's 5.8% revenue rise.
March 05, 2024 at 02:06 PM
5 minute read
Law Firm Profitability
What You Need to Know
- King & Spalding's profits rose at more than double the rate of its revenue in 2023.
- The international firm increased its gross revenue by 5.8% to $2.137 billion. Its profits per partner rose by 12.8% to $5.3 million.
- It shrank its equity partner tier by 6.3% but only slightly increased its non-equity partner tier by 1%.
After cracking the $2 billion mark for the first time in 2022, King & Spalding increased its gross revenue by 5.8% to $2.137 billion last year. Meanwhile, its average profits per equity partner grew even faster in 2023, rising 12.8% to $5.3 million.
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