ALM Intelligence Releases New Firm Performance Overview Key Takeaways Report
The following insights represent general market trends observed by our legal analysts throughout their in-depth analysis of Am Law 200 and Global 100 firms
New York, NY – December 7, 2020 – ALM Intelligence has just released a wrap-up report of their key findings from the 2020 Firm Performance Overview reports. Each year, the ALM Intelligence analyst team generates reports on all Am Law 200 firms and the non-Am Law Global 100 firms. Our analysts designed these reports 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. 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.
This key takeaways report compiles the data and insights from the 223 Am Law 200 and Global 100 Firm Performance Overview reports produced by our Legal Analysts, James Willer, Mark Moore, and Caitlin Kennedy, over five months beginning in April of 2020.
“The wrap-up report brings together our key findings extracted through an in-depth analysis of some of the world’s largest law firms throughout 2020,” said James Willer, Lead Legal Analyst, ALM Intelligence.“From ongoing financial performance and lateral hiring activity to footprint and diversity trends, the report contains critical insight not readily visible to the naked eye.”
Highlights and key takeaways from this 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
“Our analysts have done a great job of surfacing key data points and trends that are not readily visible to the naked eye when looking at the Am Law data,” said Patrick Fuller, Vice President and General Manager of ALM Intelligence. “Too often, the financial performance metrics are viewed in silos rather than correlated indicators of execution.”
For more information or to obtain the full version of the survey, visit: https://www.alm.com/intelligence/solutions-we-provide/business-of-law-solutions/analyst-reports/2020-firm-performance-overview-reports-key-takeaways/
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