Law Firm Finances and Profitability
Kirkland’s revenue hits $8.8bn as PEP grows 16%
Chicago giant again sets turnover record for Am Law 100 as profits per equity partner climb to $9.25m
Garrigues revenue pushes past €480m in record result
Spanish heavyweight says 6% growth cements its place as leading law firm in the EU by revenue
Reed Smith hits record $1.5bn in revenue
PEP rises nearly 14% to $1.8m while London office grows turnover 15% following two years of decline
Latham & Watkins sees revenue soar 23% to hit $7bn
Los Angeles giant’s PEP tops $7m following 29% growth last year
Heuking sees turnover dip in 2024 after record-setting 2023
German firm generates €201.8m in revenue, the second year in a row it has topped €200m
Hogan Lovells rings in record results as turnover nears $3bn
Transatlantic firm cites balanced growth across practices as PEP pushes past $3m
Mid-market UK firms grew turnover by 6% in 2024 amid rising costs
Law Society report warns firms to wean themselves off reliance on client interest for profit boost
Pérez-Llorca grows revenue 33% to record €165m
Results follow Spanish firm’s landmark merger with 100-lawyer Mexican firm in 2024
White & Case’s revenue climbs by 12.5% to break through the $3bn mark
London office revenue jumps by 25% and overall PEP increases 27% to $4m as firm points to strength of global network
US firms grew revenue by 12.5% in bumper 2024
Billing rate hikes and transactional practices drive growth as Am Law 50 firms leave smaller rivals trailing, according to report by Wells Fargo
Quinn Emanuel pushes London revenue past £200m
Turnover hits £220.1m in 2024 as profit dips slightly following 60% leap in 2023
Bonus season gets underway as quartet of Big Law firms fall in line with Milbank
Cravath, Paul Hastings, McDermott and Fried Frank match Milbank in handing out up to $140,000 of extra cash to associates
Milbank rings in associate bonus season, dishing out up to $115,000
Bonuses ranging from $15k to $115k to be handed out by 31 December
AmLaw 200 partner pay hits record $1.4m
Average compensation jumps 26% in two years according to survey by Major Lindsey & Africa
A&O Shearman ‘moving to all-equity partnership’
Merged firm is reportedly adopting a three-level modified lockstep
Addleshaw Goddard joins raft of firms upping London NQ rates to six figures
Addleshaws’ newly-qualified London lawyers will see salaries increase 5% to £100k
Freeths increases turnover by 13% as double-digit revenue growth trend continues
Revenue hit £145.5m following first full year in Scotland and buoyant disputes activity
Norton Rose Fulbright rings in revenue, profit rises
Europe, Middle East and Asia business hails fifth consecutive year of growth
US law firms ring in strong performance in first half
Top 50 firms fuelled average 11.4% rise in revenue according to Wells Fargo report
Addleshaws, CMS and DAC Beachcroft latest firms to post financial results
With revenue increases ranging from 5-12%, trio point to international investment
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