Expenses are rising faster than revenue at the nation’s largest law firms, and their leaders are running out of ways to manage the imbalance, according to a survey by Wells Fargo’s legal specialty group.
The survey, one of three conducted by the bank each year on the state of the legal industry, gathered input from 115 firms on a variety of performance-related categories for the first half of the year. More than half of the respondents were from The Am Law 100, with the rest falling into the Second Hundred, according to Wells.
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