Gwen Renigar, chair of Steptoe LLP. Courtesy photoSteptoe Grows Revenue 7.5%, Hitting Record-High $530 Million
The firm's profits per equity partner rose nearly 5% to $2.1 million in 2024, according to preliminary financial reporting.
January 29, 2025 at 10:00 AM
4 minute read
What You Need to Know
- Even with Steptoe increasing head count by 4% in 2024, the firm's revenue per lawyer rose 3% to $1.23 million.
- Meanwhile, the firm’s net income rose over 6% to $194 million.
- The firm said it saw strong demand within its investigations, white-collar and litigation practices.
Washington, D.C.-based Steptoe saw gross revenue rise by 7.5% to $530 million last year, while profits per equity partner rose nearly 5% to $2.1 million, both records for the firm, according to preliminary financial reporting by The American Lawyer.
Even with a head count boost, Steptoe's revenue per lawyer grew by about 3% to $1.23 million. In all, the firm's head count rose a little over 4% to 428 lawyers.
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