The fiscal year 2022 saw overall growth for the world’s largest law firms, albeit slower than previous years. According to the rankings by gross revenue, the Global 200 saw revenue grow by 1.2% from the previous financial year, with an average head count growth of 6.1%. Despite the rise in personnel, however, revenue per lawyer witnessed a 4.6% decline due to less than optimal productivity.
The differential productivity rates and head count growth were primarily noted in the Second Hundred, comprising a number of firms outside of the U.S. and U.K., which experienced significant growth in terms of lawyers. While the Global 100 saw a nominal gain in revenue per lawyer of just below 1%, the Second Hundred faced a substantial drop by 16%. The data provided by some firms was estimated in instances where figures were not readily available.
While the U.S. firms dominate the list of the world’s 200 largest firms, certain regions performed better than others in the last fiscal year. However, the specifics are concealed behind the article’s paywall.
The complete rankings, detailed explanations, and analysis of the fiscal year 2022 are available for further examination here.