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Is Your Firm Prepared for the 'Silver Tsunami'?
A Silver Tsunami of aging partners is threatening the legal profession. There's a way to higher ground.
This may be the golden age for Big Law in this country. In 2019, 41 of the Am Law 100 firms' revenue exceeded $1 billion; of those 41 firms all but one had profits per equity partner (PPEP) that exceeded $1 million and 80 of the top 100 had PPEP that exceeded $1 million. Another seven firms had PPEP that exceeded $900,000.
By contrast, the Am Law 100 list of a decade before reported only 13 firms with revenue exceeding $1 billion; 10 of those firms reported PPEP over $1 million and only 64% of the Am Law 100 had PPEP over $1 million.
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