Regulatory and litigation-focused law firm Steptoe grew revenue to more than half a billion in 2024 and also raised average equity partner payouts to $2.1 million.
Leaders at Steptoe, the second Am Law 100 firm to disclose financial metrics for 2024, said Wednesday the law firm’s 7.5% and 5% increases in revenue and profits per equity partner from 2023 are due to “smart and steady” growth in the firm’s trial and energy deal practices in 2024. Total revenue was $530 million, up from $493 million.
With the firm increasing the number of lawyers by 7.5%, from 410 to 441, Steptoe’s ...
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