BigLaw firms generate a large and growing revenue in the United States. The top 100 U.S. BigLaw firms generated a combined gross revenue of 111 billion U.S. dollars in 2020. In comparison, the total legal services market in the U.S. was estimated at 350 billion U.S. dollars in 2021, although it should be noted that the revenue of the top 100 law firms include some revenue streams generated internationally. In 2020, the highest-grossing BigLaw firm in the United States was Kirkland with 4.83 billion U.S. dollars, followed by Latham, Baker McKenzie, DLA Piper, and Skadden Arps.
In terms of the number of lawyers employed, there is some cross over between the top BigLaw firms but also some differences. With 4,699 lawyers, Baker McKenzie employs the most lawyers, followed by DLA Piper, Norton Rose, and Latham & Watkins. This difference between the top firms by revenue versus headcount is likely related, at least in part, to the extent to which current industry trends aimed at increasing efficiency have been implemented.
