We know how Biglaw fared in 2024, but what about the law firms that fall just outside of the Am Law 200? How did they do?
Law.com recently released its third annual Pro Mid-Market 50 law firm rankings, a list of the midsize yet still elite law firms that represent the very best of what the legal profession has to offer. The highlights from the report reveal that these midsize firms saw incredible success across average revenue (up 5.4%) and average revenue per lawyer (up 7.9%), while average size shrunk just a bit (down 3.4%) in 2024. Thanks to these strong money moves, consolidation is still the name of the game among midsize firms that have the urge to merge.
While some firms came out on top, others completely exceeded expectations. How did the Mid-Market 50 stack up?
Here’s an overview of how midsize performed in 2024:
- Average size: 114 lawyers
- Average revenue per lawyer: $710,800
- Average revenue: $81.13 million
How did we get here, when compared to Biglaw’s 2024 financials? Law.com has the details:
Firms near the top of the Mid-Market 50, ranked by 2024 gross revenue, are knocking at the door of the Am Law 200….
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Nevertheless, the average 5.4% increase in revenue for the Mid-Market 50 trails a 9.3% growth rate for the bottom quarter of the Am Law 200, according to ALM data. As for RPL, the 7.9% growth in 2024 for the Mid-Market 50 aligns closely with the 8.3% growth for the Am Law 151-200.
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Now, the moment you’ve been waiting for: the top 10 firms in the Mid-Market 50 rankings (including FY 2024 revenue).
- Eckert Seamans Cherin & Mellott: $134,500,000
- Hinckley Allen & Snyder: $133,607,000
- Warner Norcross + Judd: $133,061,000
- Best Best & Krieger: $131,984,000
- Sullivan & Worcester: $129,568,000
- Chamberlain Hrdlicka White Williams & Aughtry: $122,486,000
- Lane Powell: $117,800,000
- Porter Hedges: $116,500,000
- Kanner & Pintaluga: $116,446,000
- Wiggin and Dana: $115,301,000
The full Pro Mid-Market 50 ranking can be found here.
Congratulations to all of the firms that made the third edition of the Pro Mid-Market 50 ranking.
Snapping Back from a One-Year Decline, Pro Mid-Market 50 Revenue Grows 5.4% [Law.com]
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.