Big Law, Big Revenues, Good Profits

American Lawyer continues to track and explain the growth of the world’s legal industry. The numbers for the 100 largest law firms are indeed large at the overall level, but pale next to the profits of many in the finance industry. Per AmLaw, the numbers are as follows for  for the top 100 firms:

“Aggregate Global 100 revenue rose 4.3 percent last year, to a record $88.7 billion—11 percent higher than the group managed at the height of the boom in 2008. Global 100 firms now collectively employ more than 112,000 lawyers and 22,000 equity partners—annual increases of 3.9 percent and 3.4 percent, respectively. And in news that will be welcomed by equity partners, if perhaps not their clients, average profit per equity partner (PPP) grew 5.4 percent, to $1.6 million, another Global 100 record.”