- Gross revenues increased nearly 4 percent at top law firms; which firms made the top five?
Business of Law
Gross revenues increased nearly 4 percent at top law firms; which firms made the top five?
Posted Oct 1, 2013 8:56 AM CDT
By Debra Cassens Weiss
Gross revenues increased 3.8 percent last year at the world’s 100 largest law firms, even as revenue per lawyer remained flat at about $784,000.
The American Lawyer (sub. req.) ranked the law firms by revenue and other metrics, and analyzed which firms had the best compound annual growth rates. The conclusion, based on firms that made the 2007 and 2012 highest revenue lists: British-based firms haven’t recovered from the recession as well as U.S.-based law firms, and neither did well as law firms based in Australia.
A press release summarizes the findings. Australia-based firms averaged compound annual growth rates of 4.5 percent, American firms averaged 0.9 percent, and British firms averaged a decline of 3.3 percent.
DLA Piper had the highest gross revenues, according to the American Lawyer. The top five are:
DLA Piper ($2.44 billion in gross revenue)
Baker & McKenzie ($2.42 billion)
Latham & Watkins ($2.23 billion)
Skadden, Arps, Slate, Meagher & Flom ($2.21 billion)
Clifford Chance ($2.02 billion)