Welcome back to the Big Law Business column. Today, we’ll be exploring the odds for what could transpire in the year ahead for the legal landscape of the world’s largest corporations and law firms.
Following a long and demanding year, the return of the Big Law Sportsbook is here for another round of predictions. For those new to this format, most of the odds we will be discussing are in the form of an “over-under” bet. Instead of simply making predictions, readers get to wager whether the actual outcome will be “over” or “under” the forecasted amount.
For those who engaged last year, be sure to check out how your predictions fared towards the end.
Here are a few notable odds for 2024:
- Number of firms that will report $3 billion or more in revenue: 7.5
- Highest profits per partner figure: $8.1 million
- Bonus bet: Kirkland profits per partner will exceed Super Bowl ad prices
- Partners in Paul Weiss’ London office by end of 2024: 24.5
- Legal fees paid by the PGA Tour: $28.5 million
There are also several intriguing predictions related to bankruptcy filings, new income partner classes at Kirkland, and the relative numbers of equity and non-equity partners at top firms.
For those curious about the results of last year’s Big Law Sportsbook, included are details on topics like the number of Top 100 firms reporting declines in Profits Per Partner, the highest reported hourly billing rate, and Litigation Funding Commitments in the US.
This year’s predictions offer a chance to contribute to the dialog and anticipate trends. Whether for fun or serious analysis, these insights stimulate thought and conversation in our continuously evolving industry.
In the meantime, my inbox is always open for your thoughts, critiques, and suggestions. Wishing you all a prosperous New Year!