News and Events for Attorneys and Executives

Law Firms Post Best Revenue Performance Since Recession

By on August 22, 2018 in Law Firm Management

Money - pay - salary - dollarBloomberg Law reports that rising demand and rates pushed law firm revenue up 5.5 percent in the first half of 2018, the strongest performance since the recession.

The information is based on a report by Citi Private Bank’s law firm group.

“The 40 out of 50 largest firms which reported their metrics outperformed,” writes reporter Elizabeth Olson. “The biggest reported a revenue increase of 6.8 percent. Roughly 3.2 percent came from rising demand, and 4.8 percent from higher bill rates.”

Firms in the next category, ranked by size, had slightly lower rates of revenue growth, while smaller, niche firms reported sightly stronger growth.

Read the Bloomberg Law article.