August 3, 2025

Dallas Law Firms Expand Reach and Achieve Record Growth

News Summary

Four major Texas law firms—Baker Botts, Haynes Boone, Bracewell, and Vinson & Elkins—have reported impressive growth outside Texas, achieving record revenues. These firms are increasingly employing talent nationally and internationally, with non-Texas revenues seeing significant increases. With strategic expansions into states like California and international markets, the firms are redefining their operational landscapes. The Texas legal sector showcases resilience and ambition, setting the stage for strong future growth.

Texas has become the center of attention for corporate law firms as Baker Botts, Haynes Boone, Bracewell, and Vinson & Elkins achieved record revenues and substantial growth outside the state in 2024. According to the latest report from Texas Lawbook 50, which tracks financial metrics of major law firms, these four firms collectively generated nearly $2.9 billion in firmwide revenues and employed a total of 2,360 lawyers, with a notable percentage of their workforce based outside Texas.

In a significant shift, 46% of the legal professionals at these firms worked in non-Texas offices in 2024, compared to 30% in 2011. This reflects a changing landscape in the legal industry, where firms are increasingly opening and expanding offices beyond Texas to capture new markets. The revenue from these out-of-state offices reached $1.21 billion in 2024, up from $821.7 million in 2019, marking a remarkable 47% growth over six years. In contrast, Texas operations of these four firms only experienced an 18% increase in revenue, rising from $1.41 billion in 2019 to $1.66 billion in 2024.

Kent Zimmermann, a consultant focused on the legal industry, has pointed out that limitations in high-level legal talent available in Texas cities like Dallas and Houston have prompted these firms to explore growth opportunities in alternative markets. Successful expansions have been observed in locations such as California, Washington D.C., Charlotte, Denver, and internationally.

Haynes Boone is one firm standing out in this trend, experiencing the fastest growth outside Texas. In 2024, the firm operated 11 non-Texas offices, including three international locations. While its Texas attorney headcount decreased slightly by six, the firm increased its number of out-of-state lawyers by 30. Haynes Boone reported total revenues of $635.8 million in 2024, marking a year-over-year increase of 7%. Notably, the firm’s non-Texas revenue soared by 91% from 2019 to 2024, jumping from $120.1 million to $229.3 million, while its Texas revenue only grew by 43% during the same time period.

Bracewell has also established itself as a national player, maintaining U.S. offices in major cities like New York, Seattle, and Washington D.C., alongside its international presence in Dubai, London, and Paris. In 2024, 43% of the firm’s revenue, amounting to $362 million, was generated from non-Texas lawyers.

Baker Botts reported $820.3 million in firmwide revenue in 2024, with its non-Texas revenue exceeding Texas revenue for the last two years. The Texas revenue for Baker Botts has seen a 12% increase since 2018, while the non-Texas revenue has grown by 31% in the same period. The firm actively operates international offices in Brussels, Dubai, London, Riyadh, and Singapore, primarily focusing on technology and intellectual property law.

Vinson & Elkins (V&E) has surpassed $1 billion in revenue for the second consecutive year. The firm generated $635.1 million from its Texas lawyers and $414.8 million from non-Texas offices in 2024. V&E’s non-Texas offices experienced an 11.4% revenue increase compared to the previous year, further contributing to the robust financial performance of these firms.

The Texas Lawbook is a prominent online publication that specializes in covering business law and business lawyers in Texas, providing indispensable insights into the legal market landscape. This dynamic growth and revenue achievement among major Texas law firms in 2024 reflects a broader trend in the corporate legal sector, highlighting the shifting preferences and strategies of law firms in response to competitive pressures and talent availability.

A comprehensive version of this report is available through the Texas Lawbook for those interested in delving deeper into the financial statistics and strategic movements of these law firms.

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