Leaders of Pennsylvania’s largest law firms are predicting revenue and profit gains for 2015 despite little demand growth, but some of those firm leaders fear the increases they are seeing this year are nearing a plateau. What seems to be consistent is a revised definition of success, with firm leaders saying a flat to 5 percent increase in revenue should be viewed as a good year.
Those sentiments align with results from Citi Private Bank Law Firm Group’s Managing Partner Confidence Index for the third quarter, which showed firms were bullish on their own revenue growth for 2015 but showed waning confidence across the industry that demand would grow.
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