Lessons of The Am Law 100:Revenues and profits at the nation’s highest-grossing law firms grew by healthy margins in 2006. Same old story? Not quite….

By Aric Press and John O’connor
The American Lawyer
May 1, 2007

On the surface, at least, it’s the same happy story. New records galore: Gross revenue up 11.4 percent, profits per partner up 13.4 percent, revenue per lawyer up 7.3 percent, which is to say, at a clip exceeding the annual hike in billing rates. Times are so good for the men and women who own Am Law 100 firms that those who snared profits of a mere million dollars were below par: The mean was $1.2 million; the average among firms headquartered in New York, an astonishing $2.05 million.

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