In 2024, the Biglaw industry experienced remarkable growth as highlighted by the American Lawyer's Am Law 100 report. The top 100 law firms generated close to $160 billion, marking a 13.3% increase in revenue year-over-year. Net income also rose significantly, achieving a collective 16% increase to over $69 billion. Key players included Kirkland & Ellis, which generated $8.8 billion in revenue, and Latham & Watkins at $7 billion. The report indicates a strong financial outlook for Biglaw as every major metric showed advancement.
By the numbers, there is no other credible way to describe the overall performance of the 100 largest law firms by revenue: They crushed it.
The collective Am Law 100 saw 13.3% year-over-year revenue growth in 2024, generating close to $160 billion in total.
Virtually every major financial metric showed growth, including net income, which saw a collective 16% rise to more than $69 billion.
Kirkland & Ellis hit $8.8 billion in revenue, almost jumping straight into $9 billion territory.
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