Pointing to “robust and sustained demand” across practices and markets, Latham & Watkins surged 23% to reach $7 billion in gross revenue in 2024 and shot up nearly 30% in average profits per equity partner to eclipse the $7 million mark.
The firm also increased net income by 31.7%, up to nearly $4 billion, and average compensation for all lawyers by about 21%, to roughly $4.7 million, according to American Lawyer reporting. It promoted fewer partners last year compared with the previous two years, but still increased its equity tier (up about 2% to roughly 553 partners) as well as its nonequity tier (roughly 8%, to 404).