2020 FIRM PERFORMANCE OVERVIEW REPORTS KEY TAKEAWAYS

December 2020 | $0

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Welcome to the inaugural edition of the Am Law 200 Firm Performance Overview Reports ”Key Takeaways.”

Each year, the ALM Intelligence analyst team generates reports on each of the Am Law 200 firms and the non-Am Law Global 100 firms. The analysts design the insights to examine the drivers of each law firm’s key financial metrics during the previous fiscal year, including performance versus peers and the broader market. The analysts endeavor to deliver insights that are not readily visible to the naked eye when viewing the Am Law metrics.

For our law firm clients, these reports serve as an on-demand source of competitive intelligence. 

For our legal department clients, these reports, and the corresponding data and tools on Legal Compass, are often used for due diligence and law firm evaluation.

The following insights represent general market trends observed by the analysts throughout their in-depth analysis.

In 2020, James Willer, Mark Moore, and Caitlin Kennedy generated all 223 reports over five months, beginning in April.

Headshot of Patrick Fuller Senior Director, ALM Intelligence

Patrick Fuller

Vice President, ALM Intelligence

James Willer

Senior Analyst, ALM Intelligence

Mark Moore

Analyst, ALM Intelligence

Caitlin Kennedy

Analyst, ALM Intelligence

Highlights from the report include:

  • Revenue: The Am Law 1 – 50 accounted for 61% of the overall Am Law 200 revenue, up from 59% in 2015
  • Headcount: Am Law 200 attorney headcount increased 3% in the US in 2019, continuing five years of 4% average growth 
  • Profitability & Office Network: 48% of Am Law 200 firms have at least 50% of offices with 20 or fewer attorneys
  • DIversity: Firms with a higher percentage of minority and female attorneys generally had higher revenue rankings

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