All articles tagged with #am law 200
Ropes & Gray has announced it will match Milbank's bonus scale for its US-based partnership track associates who meet the 1900-hour threshold, with potential for additional bonuses for those exceeding expectations. The firm, ranked 8th on the Am Law 200 with nearly $3 billion in revenue, plans to distribute bonuses on December 24. The announcement encourages associates to report their firm's bonus matches to Above the Law for updates.
Four Biglaw firms from the Second Hundred list managed to break into the Top 20 rankings for both revenue per lawyer and value per lawyer, according to the latest Am Law 200 ranking.
The American Lawyer's Am Law 200 law firm rankings show that Biglaw's Second Hundred outperformed the Am Law 100 in 2022, with overall revenue growth of 4.1% and better financial metrics, including revenue per lawyer and profits per equity partner. The Second Hundred firms managed expenses and hiring better than some larger firms, protecting their profits and being more thoughtful about associate salary increases. The top 10 firms by gross revenue include Steptoe, Kramer Levin, and Cahill, while Irell, Susman Godfrey, and Munger Tolles top the revenue per lawyer rankings, and Cole Scott, Cahill, and Irell lead the profits per equity partner rankings.
The Second Hundred firms in the Am Law 200 saw a 4.1% increase in gross revenue in 2022, surpassing the Am Law 100's 2.7% increase. Fennemore Craig had the largest increase at 45.6%, while Cahill Gordon & Reindel had the largest decline at -19.5%.