The Latest from The Am Law 200
Let’s take a moment to break down the Am Law 100 (law firms ranked 1-100) and Am Law 200 (those ranked 101-200). How much do you know about what goes into making these lists?
Gina Passarella, Editor-in-Chief of The American Lawyer, says both groups are ranked on a number of measurements including profits per equity partner, revenue per lawyer and compensation for all partners among other criteria. The largest firms, however, have their rankings based mainly on gross revenue. Gina discusses the Am Law 100 in an interesting podcast (listen to it here on Legal Talk Network).
The 2018 Am Law 100 class stems from the review of 2017 financials. The numbers reveal a robust legal landscape for those firms with the highest number of attorneys, profits per partner, and overall revenue. The Am Law 200 portrays a somewhat contrasting view of their current financial climate, according to Joe Patrice of AbovetheLaw.com (link to article). The revenue growth rates reported for the Am Law 100 were up 5.5 percent, as opposed to a 0.2 percent decline for the Am Law 200.
According to Nicholas Bruch, a senior analyst at ALM Legal Intelligence, the data can be deceiving. Even accounting for mergers and sporadic volatility among the Am Law 200, it saw steady growth. For more detailed information on Am Law 200 firms, please watch the following webinar: The Am Law 200.
While it’s a badge of honor to be ranked in the Am Law 100 or 200, it’s important for attorneys to also focus on the right platform for their specific practices.
If you wish to gain a better understanding of the local legal market, the team at D. French Advisors is here to be a resource.
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