Per-lawyer metrics are the preferred measure of success nowadays at Boies Schiller Flexner. The firm finished 2022 down 4.3% in gross revenue, at $220 million, and down 9.6% in FTE lawyer head count, to 150. Gross revenue and head count are now down 47.6% and 53.1%, respectively, since 2018, when both metrics peaked.
However, as head count declined, profits per equity partner rose 11.9%, and profits per lawyer were up 12.2%. Revenue per lawyer was up nearly 6% at $1.46 million. The firm’s profit margin increased two percentage points to 33%, still trailing the 43% margins of 2018 and 2019.