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Law Firm Profitability
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Some Elite Law Firms Are Growing Equity Partner Ranks Faster Than Others
By Andrew Maloney | February 3, 2025
Elite law firms are targeting lateral partner groups that can increase the firm’s wallet share with existing, significant clients.
1 minute read
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Profits Surge Across Big Law Tiers; Am Law 50 Segmentation Accelerates
By Andrew Maloney | January 29, 2025
Revenue across law firm segments rose 12.5%, and with tight control over the size of equity partnerships, PEP increased by 16.9%, Wells Fargo said.
1 minute read
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Law Firms Turn to 'Golden Handcuffs' to Curb Partner Movement
By Andrew Maloney | January 27, 2025
Many firms are increasingly implementing strategies such as clawbacks and deferred compensation to discourage partners from leaving, noted legal recruiter Mike Parrillo.
1 minute read
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Law Firms Grapple With 'Friction' Over Nonequity Partner Pay
By Andrew Maloney | January 15, 2025
Pay for nonequity partners can approach or overlap with compensation of senior associates, counsel as well as some equity partners, firm leaders and consultants say.
1 minute read
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Fieldfisher Top of Equity Halves to £3.1M
By Krishnan Nair | December 27, 2024
The firm's latest LLP accounts also document rising staff costs and a reduced cash position.
1 minute read
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Partner Pay Has Entered 'A Whole Different World'
By Andrew Maloney | December 16, 2024
Rapid changes to partner pay in Big Law will continue, experts say. Among nearly 200 firms, more than one-third plan to make changes to their equity partner compensation models over the next two years.
1 minute read
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Macfarlanes Highest Paid Partner Pay Breaks £4M Barrier
By Habiba Cullen-Jafar | December 9, 2024
The new record comes as profits at the firm also experienced a healthy boost.
1 minute read
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BCLP Mulls Merger Prospects as Profitability Lags, Partnership Shrinks
By Dan Roe | November 26, 2024
The quest to form a global firm with a shared profit pool has led to some U.S. partner tensions.
1 minute read
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Law Firms See Double-Digit Profit Growth as Billing Rates Rise
By Andrew Maloney | November 19, 2024
Billing rate growth continues to drive law firms' performance in 2024.
1 minute read
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The Law Firms Generating 8-Figure Fees on the Year's Big Ticket UK Deals
By Krishnan Nair | November 5, 2024
The U.K. M&A market rebound has been a boon for a handful of elite law firms, according to Law.com International research, with one firm proving especially prolific.
3 minute read
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Leaning Into ‘Core’ Strengths, Jenner’s Revenue Climbs 17%, Profits Soar 23%
By Andrew Maloney | February 4, 2025
Nine of the firm’s 17 “primary teams” individually exceeded a goal of increasing revenue by 15%, and the firm saw increased demand by “4 or 5% last year” overall, Jenner said.
1 minute read
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HSF Accounts Show Operating Loss in America For 2024
By Louis Altmann | February 4, 2025
The 2023-24 LLP accounts will be the firm's last before its transatlantic merger with Kramer Levin goes live if it is voted through this month.
1 minute read
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In Record Year for Baker Botts, Revenue Up 11.8%, PEP Up 17.6%
By Brenda Sapino Jeffreys | February 4, 2025
Baker Botts posted record revenue and profits in 2024, as the Houston-founded firm reaped the benefits of investments made in 2023, and strong demand from clients with complex matters.
1 minute read
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How Some Elite Law Firms Are Growing Equity Partner Ranks Faster Than Others
By Andrew Maloney | February 3, 2025
Elite law firms are targeting lateral partner groups who can increase the firm’s wallet share with existing, significant clients.
1 minute read
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Profits Surge Across Big Law Tiers, but Am Law 50 Segmentation Accelerates
By Andrew Maloney | January 29, 2025
Revenue across law firm segments rose 12.5%, and with tight control over the size of equity partnerships, PEP increased by 16.9%, Wells Fargo said.
1 minute read
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Steptoe Grows Revenue 7.5%, Hitting Record-High $530 Million
By Abigail Adcox | January 29, 2025
The firm's profits per equity partner rose nearly 5% to $2.1 million in 2024, according to preliminary financial reporting.
1 minute read
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Law Firms Are 'Struggling' With Partner Pay Segmentation, as Top Rainmakers Bring In More Revenue
By Andrew Maloney | January 28, 2025
Some partners last year "doubled their book of business, and not just from $20 to $40 million, but $60 to $120 million," noted Blane Prescott. "More firms are struggling with: what should the top be?”
1 minute read
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Law Firms Turn to 'Golden Handcuffs' to Rein In Partner Movement
By Andrew Maloney | January 24, 2025
Many firms are increasingly implementing strategies such as clawbacks and deferred compensation to discourage partners from leaving, noted legal recruiter Mike Parrillo.
1 minute read
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How Law Firms Can Make Business Services a Performance Champion
By Albert Bollard, Alex D’Amico and Igor Yasenovets | January 21, 2025
"Based on our experience," McKinsey & Co.'s Albert Bollard, Alex D'Amico and Igor Yasenovets write, "it is possible to increase business-services efficiency as much as 20% in terms of cost per lawyer, while maintaining or boosting partner satisfaction."
1 minute read
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For Growing Law Firms, Customizable Financing Can Unlock Opportunities
By Debra Bordeaux | January 21, 2025
Success in this increasingly saturated and competitive market often requires reaching, attracting and acquiring large groups of clients with an at-scale marketing budget. At the same time, firms must maintain strategic and effective cash flow management due to extended litigation and delayed settlements.
1 minute read
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