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Midsize Firms Outpace Am Law 200 In Key Growth Metrics
While many of the country's largest law firms contend with financial volatility that has resulted in financial declines and workforce overcapacity, the 20 midsize firms included in the Am Law 200 outperformed the 2023 Am Law Second Hundred in key financial metrics.
Midsize firms in the Am Law 200 grew revenue by 7% to an average of $185 million and RPL by 10% to an average of $1.14 million, according to an analysis by Law.com. This compares to the average of the Second Hundred as a whole, where revenue grew 4% to $236 million and RPL grew 1.5% to $775,000.
Recently released data by The American Lawyer on the 200 highest-grossing firms in the U.S., which includes 20 law firms with less than 200 lawyers, not only highlights a trend that smaller firms are experiencing more consistent growth than their Big Law counterparts but that their deployment of legal talent has yielded greater income on a per-lawyer basis.
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