The 2025 Am Law 100 Ranking Is Here!


Biglaw had a helluva 2024. By nearly every trackable metric, the numbers were up, up, up. And now we’ve finally moved from anecdotal stories of highs and lows and gotten some real data with the announcement of American Lawyer’s 2024 Am Law 100. With a whopping 58 firms notching over a billion dollars in gross revenue, the financials of Biglaw look solid.

Patrick Smith details the industry-wide trends:

By the numbers, there is no other credible way to describe the overall performance of the 100 largest law firms by revenue: They crushed it.

The collective Am Law 100 saw 13.3% year-over-year revenue growth in 2024, generating close to $160 billion in total. Virtually every major financial metric showed growth, including net income, which saw a collective 16% rise to more than $69 billion — a remarkable annual growth rate for that metric.

The results were impressive firm by firm, too. Kirkland & Ellis hit $8.8 billion in revenue, almost jumping straight into $9 billion territory. Latham & Watkins landed squarely on $7 billion. DLA Piper crossed $4 billion in revenue.

So, enough of the broad strokes — how did specific firms stack up? Here’s the top of some of the biggest categories.

Gross Revenue

Here’s the top 10 by revenue… which looks a pretty similar to last year’s top 10. Full 100 list available here.

2025 Am Law 100 Rank (FY:2024) Rank Change Firm Name Gross Revenue Revenue Change
1 Same Kirkland & Ellis  $ 8,801,740,000  22.11%
2 Same Latham & Watkins  $ 7,000,000,000  23.06%
3 Same DLA Piper  $ 4,239,832,000  10.71%
4 +1 Skadden, Arps, Slate, Meagher & Flom  $ 3,669,042,000  12.20%
5 +2 Gibson, Dunn & Crutcher  $ 3,557,623,000  15.73%
6 Same Sidley Austin  $ 3,439,646,000  10.94%
7 +1 Ropes & Gray  $ 3,416,636,000  14.16%
8 -4 Baker McKenzie  $ 3,394,579,000  3.28%
9 Same White & Case  $ 3,316,735,000  12.45%
10 Same Morgan, Lewis & Bockius  $ 3,098,511,000  6.90%

Revenue Per Lawyer

But, of course, there are other important metrics in Biglaw. Take, for example, revenue per lawyer. RPL provides a relatively accurate picture of a firm’s overall financial well-being, and here are the five big name players at the top of the list. Full list available here.

Rank Firm RPL Change from 2023
1 Wachtell, Lipton, Rosen & Katz $4,472,000 4.68%
2 Susman Godfrey $2,389,000 -33.55%
3 Sullivan & Cromwell $2,333,000 5.14%
4 Cravath, Swaine & Moore $2,256,000 15.40%
5 Kirkland & Ellis $2,299,000 12.09%

Profits Per Equity Partner

The dogfight between Kirkland and Wachtell in PPP continues, with Kirkland getting the top spot this year. The full Am Law 100 profits per partner chart can be found here.

Rank Firm PPP Change from 2023
1 Kirkland & Ellis $9,253,000 16.23%
2 Wachtell, Lipton, Rosen & Katz $9,036,000 6.22%
3 Quinn Emanuel Urquhart & Sullivan $8,643,000 18.89%
4 Davis Polk & Wardwell $7,800,000 25.81%
5 Simpson Thacher & Bartlett $7,664,000 19.14%

We will undoubtedly have even more to say as we dig into these numbers and reflect on why, with such strong financials, so many in Biglaw have been willing to bend to a bully.


Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @[email protected].





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As Minnesota lawmakers hammer out a budget bill ahead of a Monday deadline, a Ramsey County judge is considering a challenge to last year’s spending package. A gun rights group argues that a ban on a certain type of trigger that DFLers added to the sprawling 2024 tax plan violates a prohibition on multi-subject bills.

Guns equipped with binary triggers can fire a round both on the pull of the trigger and its release. While they don’t turn a semiautomatic firearm into a machine gun, they effectively double the rate of fire.

Last year Minnesota banned binary triggers after a Burnsville man used a rifle equipped with one to kill two police officers and a paramedic. The shooter — Shannon Gooden — died by suicide. His girlfriend later admitted illegally purchasing that gun and several others for him.

A firearms rights group alleges in a lawsuit that the ban is illegal. But the Minnesota Gun Owners Caucus isn’t arguing the case on Second Amendment grounds. In a Ramsey County courtroom Tuesday, plaintiff’s attorney Nicholas Nelson said the Minnesota Constitution prohibits legislation that addresses more than a single subject. The DFL-led Legislature included the binary trigger ban in a massive tax bill at the end of the 2024 session.

“If one were trying to come up with the most spectacular violation of the single-subject clause you could, you would do something like the Legislature did here,” Nelson said. “The big question in this case is whether the courts are going to take the single subject clause seriously, whether the courts are going to take the Supreme Court's warnings about this seriously.”

lawyer with short brown hair and suit speaks in court
Attorney Nicholas Nelson with the Upper Midwest Law Center argues against Minnesota's ban on binary triggers.
Matt Sepic | MPR News

Not only does the 2024 budget bill run in excess of 1,400 pages, Nelson notes that the measure includes a wide variety of subjects from combative sports to construction codes, and the bill’s title alone takes up six pages.

The Minnesota Supreme Court warned lawmakers against this practice 25 years ago when it stripped a prevailing wage provision out of a similarly gargantuan tax bill after a contractors’ group sued. David Schultz, who teaches political science at Hamline University and law at the University of St. Thomas, is a critic of what he calls legislative logrolling.

Schultz points out that in 2000, former Justice Paul Anderson proposed scrapping the entire tax bill at issue, but the full court appeared reluctant to interfere with the legislative process.

“So from that perspective, it really does give the Legislature all types of incentive to say let’s keep doing this because we’re not being punished too often, and when we are punished, it’s only going to be to see the offending fragment separated from it,” Schultz said.

lawyer with dark curly hair speaks in courtroom
Assistant Minnesota Attorney General Anna Veit-Carter presents the state's case in a lawsuit challenging a ban on binary triggers.
Matt Sepic | MPR News

Assistant state Attorney General Anna Veit-Carter argued in court that the Gun Owners Caucus filed its case too late — after the revisor of statutes took all of the bill’s various elements and put them into Minnesota’s law books.

“It resolves the issue. It takes the problematic piece out of this omnibus bill and it places it in the statute that’s provided, in a single subject that provides notice to everyone,” she said.

Veit-Carter asked Judge Leonardo Castro to dismiss the lawsuit on timeliness grounds, and if he’s unwilling to do that, she urged the judge not to scrap the entire 2024 spending plan.

Castro promised to issue a ruling soon. 



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