Philadelphia. (Credit: f11photo/Shutterstock) Philadelphia Firms Saw Big Revenue Gains in 2021, and Below-Average Expense Increases
"The rich continue to get richer because they have strong profits and they use those profits to essentially buy the leading practices and rainmakers from lesser performing firms," said an industry observer.
February 03, 2022 at 11:15 AM
5 minute read
Philadelphia-born law firms saw revenue growth of 12% in 2021, a new survey shows.
A double-digit average revenue increase for Philadelphia's law firm sector in 2021 would have looked like a strong showing during any normal year. But 2021 was not a normal year, as indicated by the revenue increases by one of the largest firms founded in the city, Dechert, which saw revenue go up by 25% to exceed $1.3 billion for the first time.
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