US top 100 firms record record revenues in 2013
The total revenue for the 100 largest US law firms was $77.4 billion last year - a record figure that was 5 per cent higher than the previous year. comments powered by Disqus
The figures were reported by American Lawyer magazine, which points out that the sum is the result of the labours of 94,000 attorneys, but most of them work for firms that operate on the wrong side of a growing "profits chasm" between a few elite law firms and the rest of the large law firms.
Leading firms like Boies Schiller & Flexner, Cravath Swaine & Moore, and Wachtell Lipton Rosen & Katz did far better than the majority of firm, with average revenue per lawyer at those firms reaching of $1.2 million or more and profit per partner reaching $3 million or more. Almost three quarters of the firms reported average gross revenues of $631.3 million, while revenue per lawyer remained at $803,839.