TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Monday, April 29, 2013

Am Law 100: Signs of a 'Fundamental Recovery' in the Legal Market

Amrican Lawyer:  Am Law 100 2013: Spring Awakening:

The Am Law 100's modest gains hint that a fundamental recovery is taking root.

In fiscal 2012, The Am Law 100 posted modest gains on our key metrics. For gross revenue, revenue per lawyer, and profits per partners, firms notched low single-digit year-over-year in­creases. But these averages belied the unevenness of the recovery. Only 76 firms reported gross revenue increases last year. And only 66 firms had profit per partner increases—down from 80 firms and 72 firms, respectively, on the previous year's Am Law 100 list.

The Am Law 100 showed small increases in all major metrics in 2012.

Total gross revenue $73,399,503,390 3.40%
Average revenue per lawyer $844,245 2.60%
Average profits per partner $1,467,303 4.20%
Average compensation-all partners $1,058,545 3.00%
Average value per lawyer $391,136 3.20%

Total head count 86,941 0.80%
Total equity partners 19,216 0.00%
Total nonequity partners 12,909 2.50%

Average leverage 3.52 0.90%
Average profit margin 38 0.00%

Update:  Deborah Jones Merritt (Ohio State), Is BigLaw Reviving?


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Huh? Does the author here know that Biglaw represents less than 10% of all attorneys? And doesn't this indicate a stabilization rather than recover anyway?

Posted by: JM | Apr 29, 2013 12:53:10 PM