How much profit do law firms make?

How much profit do law firms make?

How much do the largest law firms earn on average? According to the 2021 Am Law 100 Report, the largest law firms in the US earned $111 billion in total revenue in 2020. This number marks an increase of 6.6% from 2019. For this group, the average revenue per lawyer was $1.05 million.

How do law firms get money?

Section 2 – How do law firms make money? Law firms are essentially like any other business they try to maximise their revenues while minimising their cost base in order to increase their profitability. ... Most firms tend to report their profitability in terms of Profit per Equity Partner (PEP).