Law firms—especially small and midsize ones—faced a tough economic landscape in 2015, with sliding revenue and stagnant partner compensation, according to the latest survey of firm finances by ALM Legal Intelligence.
Revenue per partner averaged $468,511 at the 574 firms that responded to this year’s Survey of Law Firm Economics, down from $491,729 in 2014. That 4.7 percent decline is the largest since ALM’s research arm began tracking revenue per partner in 1985.
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