Kirkland & Ellis Tops 2024 Am Law 100 With $8.8B Revenue.
Kirkland & Ellis has once again secured the top position in the American Lawyer’s Am Law 100 rankings, reporting a record-breaking $8.8 billion in gross revenue for 2024—firmly maintaining its status as the nation’s highest-earning law firm.
The firm also led the industry in profits per equity partner (PEP), reaching $9.25 million, and ranked among the top five in revenue per lawyer (RPL), posting $2.29 million.
Strong Financial Growth Across the Industry
The 2024 Am Law 100 data reflects a year of significant financial gains for the largest U.S. law firms. Collectively, the top 100 firms increased gross revenue by 13.3%, expanded total lawyer headcount by 7.7%, and boosted RPL by 5.2%.
Despite the overall revenue growth, only a fifth of the firms matched or exceeded the 13.3% average, with the majority falling below that threshold. This suggests that while top performers thrived, gains were not evenly distributed across the industry.
Top Five Law Firms by Gross Revenue
The highest-grossing law firms in the 2024 rankings are:
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Kirkland & Ellis – $8.8 billion (up 22% from 2023)
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Latham & Watkins – $7 billion (up 23%)
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DLA Piper – $4.2 billion (up nearly 11%)
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Skadden, Arps, Slate, Meagher & Flom – $3.6 billion (up 12%)
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Gibson, Dunn & Crutcher – $3.5 billion (up 16%)
Revenue Per Lawyer: Wachtell at the Summit
Wachtell, Lipton, Rosen & Katz led the rankings in revenue per lawyer, with an RPL of $4.47 million—substantially higher than its peers. Other top performers in this metric include:
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Susman Godfrey – $2.38 million
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Sullivan & Cromwell – $2.33 million
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Ropes & Gray – $2.33 million
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Kirkland & Ellis – $2.29 million
Profits Per Equity Partner: Kirkland Takes the Lead
Kirkland & Ellis outpaced all competitors in profits per equity partner, further solidifying its leadership position. The top five firms by PEP are:
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Kirkland & Ellis – $9.25 million
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Wachtell, Lipton, Rosen & Katz – $9.03 million
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Quinn Emanuel Urquhart & Sullivan – $8.64 million
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Davis Polk & Wardwell – $7.8 million
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Simpson Thacher & Bartlett – $7.66 million
Industry Outlook
Kirkland & Ellis’s dominant performance reflects a sustained focus on high-margin practice areas such as private equity, corporate transactions, and litigation. While the top tier of Big Law posted impressive numbers in 2024, underlying data shows a more modest growth trend for the majority of firms—underscoring the continued importance of strategic differentiation and operational efficiency in a competitive market.
As firms plan for 2025, the challenge will be maintaining momentum in the face of evolving client demands, economic shifts, and market volatility.
