Credit: Katherine Welles/Shutterstock.com A Tight Economy Increased Costs and Hindered Productivity for Pennsylvania's Am Law 100
An analysis by The Legal looked at Am Law 100 revenue and net income figures and determined that eight of Pennsylvania's firms saw their total costs outpace revenue growth by anywhere between 0.5% and 4.6%
April 25, 2024 at 01:23 PM
5 minute read
What You Need to Know
- National economic conditions impacted Pennsylvania-based Am Law 100 firms' performance, raising costs and limiting attorney productivity.
- Inflation and growing real estate costs contributed to the growth of overall costs, which outpaced gains in gross revenue.
- Softened demand brought in less work for firms, contributing to dips in billable hours.
Despite being a profitable year for the 11 Am Law 100 firms with roots in Pennsylvania, national economic conditions played a significant role in increasing costs and hindering productivity.
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