iCrowdNewswire Dec 7, 2020 9:30 AM ET
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: Firm Performance Overviews Key Takeaways Report.
About ALM Intelligence
ALM Intelligence provides proprietary data, analysis, tools, and knowledge that empower our clients to succeed. The product suite and vast data repository arm professionals with the critical business information required to make the most impactful and informed decisions possible. The exhaustive data repository and product functionality enable professionals to combat competitive challenges head-on with the confidence to remain ahead of the field. The depth of ALM Intelligence’s expertise across the benefits, insurance, consulting, and legal industries provide a broad spectrum of actionable intelligence to facilitate and execute strategy. Visit alm.com/intelligence for more information.
ALM, an information and intelligence company, provides customers with critical news, data, analysis, marketing solutions, and events to successfully manage the business of law. ALM serves a community of over 6 million business professionals seeking to discover, connect, and compete in highly complex industries. Please visit www.alm.com for more information, and visit www.alm.com/events/ to learn about our upcoming events. Please follow us on Twitter at @ALMMedia.
Keywords: Legal Compass, Law Firm, Diversity, Revenue, Headcount, Law Firm Performance, Firm Performance Overview, Am Law 200, Global 100, Am Law 200 Performance, Global 100 Performance