2006 was a profitable year for AmLaw 100 firms; the majority of these top-grossing firms reported profits per equity partner of $1 million or more. The average revenue per lawyer went up 7.3 percent last year compared to 2005, and average gross revenue increased by 11.4 percent. These firms are attaining such profit per partner levels through various means. Contingency fees and simply more work (especially litigation, transactions, and real estate) were big contributors. Some firms also reduced the number of their equity partners. Chadbourne & Parke and Holland & Knight, for example, both reduced their partnership numbers by about 10 percent and then ended the year spikes in their profits per partner and equity partners.
Source: www.law.com