Credit: Shutterstock.comDC Law Firm Growth Falls Behind Big Firms in Other Regions
Revenue was up 7.6% for firms in the D.C. region in the first nine months, falling behind the industry average revenue growth of 11.9%, according to a Q3 report from Citi.
November 20, 2024 at 05:22 PM
5 minute read
Law Firm Profitability
What You Need to Know
- A strong performance in 2023 is proving it may be tough for D.C. firms to beat this year without the transaction work windfall.
- Demand and revenue growth has lagged behind the industry in the first nine months of the year.
- Productivity is slightly down as well, as firms in D.C. added to their head count.
As transactional work in other markets began to rise in 2024, revenue growth and demand for law firms in Washington, D.C. trailed behind the industry in the first nine months of this year, according to new bank data. It's a contrast to how D.C. law firms led the market last year.
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