Benesch, Friedlander, Coplan & Aronoff has reported a remarkable revenue increase of 30%, reaching approximately $348 million, attributed to an expansion in attorney head count and realization, even as the firm increased billing rates by about 10%. This growth also led to a rise in average profits per equity partner by more than 17%, totaling $906,000, despite the firm’s equity ranks growing by about 7%. Furthermore, revenue per lawyer saw an 8.5% increase.
Managing Partner Greg Eisenberg noted that the firm’s rate hikes paralleled those seen broadly among law firms in the past year. Benesch also aligned its pay increases, raising compensation for both associates and salary partners, in a move reflective of broader trends within the legal industry. For more details, please visit The American Lawyer.