Historically strong revenue growth on the strength of a pickup in demand and solid rate increases, together with moderate expense growth through the first half of 2018, have the law firm industry well ahead of last year’s first-half performance. However, behind the industry averages, we continued to see dispersion across the industry, with the market favoring the largest and smallest firms during the first half. Looking ahead, the revenue outlook for the rest of 2018 is very positive, with a solid buildup in inventory heading into the third quarter. The industry will need this, given the upward pressure on expenses we expect to see in the second half of the year as firms absorb the recently announced salary increases.

These results are based on a sample of 186 firms (77 Am Law 100 firms, 53 Second Hundred firms and 56 niche/boutique firms). Thirty-six of these firms fit our definition of either “international” (between 10 and 25 percent of lawyers based outside the United States), or “global” (at least 25 percent of lawyers based outside the United States). Firms with less than 10 percent of lawyers based outside the U.S. are classified as either “national” (less than 50 percent of total lawyers based in headquarters office), or “regional” (greater than 50 percent of lawyers based in headquarters office).

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]