After a record 5.5% head count rise in 2024, NLJ 500 firms are scaling back across-the-board hiring, tracking cautious 2025 growth with selective laterals and tech investment amid demand shifts.
Big Law firms saw an 11.4% revenue increase in Q1 2025, driven by nearly 10% billing rate hikes, despite modest demand growth and rising headcount, per Wells Fargo.
Am Law 100 firms saw record revenue growth in 2025, with Kirkland, Paul Weiss, and Wachtell dominating key metrics across revenue, profit, and compensation.
Trump’s executive order restricting law firms' federal access raises concerns over government retaliation, legal industry independence, and potential constitutional violations.
Perkins Coie sues the Trump administration over an executive order that it says unlawfully strips security clearances, cancels federal contracts, and threatens its business.
KPMG has received approval from the Arizona Supreme Court to establish KPMG Law US, marking the first instance of a Big Four accounting firm practicing law in the United States.
Non-equity partners are reshaping Big Law, with firms like Paul Weiss and Kirkland embracing this model. Bloomberg Law explores its growth, impact, and what it means for the industry.
A handful of Big Law firms known for partner retention are seeing unexpected departures in 2025, highlighting vulnerabilities in compensation structures and market shifts.
Multiple Am Law 100 firms, as well as midsize and regional law firms, have de-equitized partners in recent months in what is widely described as “sound financial management of the firm“.
