An increasing number of large law firms are reaching new financial milestones, including Kirkland & Ellis crossing the $7 billion point in gross revenue and other Am Law 100 law firms crossing the $1 billion or $2 billion mark.
But as law firms rapidly grow in new practices and new markets, with gross revenues that may rival some clients, the top-line growth isn’t what firm leaders may be most concerned about. Several firm leaders, from those firms in the top 25 through the Second Hundred, have said while they naturally pay attention to top-line markers, they’re more often concerned with per-lawyer or per-partner thresholds, which mean more to their own talent as well as those who may be in the market. They also emphasized long-term trajectory over annual targets.
