Dynamite First Quarter for Law Firms, But Volatile ‘Headwinds’ Increasing

In the legal industry, it’s sometimes difficult to see the big picture.

This week, a new report suggested law firms experienced their strongest first quarter financial results since before the great recession, and BTI Consulting released a study that found the top partners at law firms are charging $2,000 per hour.

But dig down into the report about the law firms’ first quarter, and a different picture emerges. The report, based on 176 law firms that opened their books to Citi Private Bank Law Firm Group’s analysts, suggests luck and timing played a strong role in the positive results.

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