The Second Hundred trailed the Am Law 100 in almost every financial metric, but much of that could be attributed to building for the future.
May 07, 2024 at 10:05 AM
9 minute read
The original version of this story was published on American Lawyer
Second Hundred law firms in 2022 did something they very rarely do: outpace the Am Law 100 in financial metrics. But 2023 was a different story, and the reality of the costs associated with building for the future and a somewhat unstable legal market caught up with many smaller firms.
While there were some impressive 2023 performances in the Second Hundred, the theme of a continuing profit separation between the highest-grossing law firms and smaller ones once again took center stage.
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