Law firms doing well financially from stronger demand and higher rates felt less pressure last year to make changes in the way they do business, a survey from legal industry consultancy Altman Weil shows.
The survey of 326 law firms showed that booming business shored up firm expectations about their long-term outlook.
Seventy-eight percent of firms surveyed reported higher gross revenue in 2018 compared to the year-ago period. A nearly equal percentage of firms reported increased revenue per lawyer and 72 percent reported gains in profit per equity partner.
“Strong 2018 performance is great news, but it can also fuel ...
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