The American Lawyer 200 list is valuable for two ultimate reasons. If you have never seen the American Lawyer 200 list than you are missing out because it is full of valuable information that is otherwise hidden from regular view. With these insights different types of lawyers can get a better perspective on their industry. I’ll split up the insight into two separate sections. The Associate Lawyer and the Law Firm Owner.
The Associate Lawyer
How many years will an associate lawyer sit and think about the amount of money they make compared to their peers? The better question is, how much money are you making compared to the income off the entire firm? And you can answer this question very well by studying the Am Law 200 list and seeing what is the total revenue for different law firms. You can also wee what is the average profit per partner.
The Law Firm Owner
The law firm owner can see what the big dogs are doing and better asses how they can become a big dog too. As a law firm owner, it is really easy to get stuck in the say to day grind of work and deliverables to clients. However, looking at the big picture of the financial performance of large law firms can help put the performance of your own company into perspective. After talking to many lawyers, many of them have surprisingly low expectations of the amount of money that they should make. This is the classic conundrum of the fish not seeing the water it is swimming in. Looking at the American Lawyer 200 list helps one to better see the possibilities of how much they could grow their business.
