Philadelphia law firms largely fell in line with national market trends according to Wells Fargo’s 2023 end of year report, which showed firms across the nation raising rates and enjoying accelerated revenue growth while facing moderately increasing expenses.
The survey analyzed data from over 130 law firms scattered across the Am Law 200 alongside a group of more regional firms. Of the firms surveyed, six were rooted in Philadelphia, all of which belong to the Am Law 200. These six firms together grew gross revenues by 4.7% in the last year, comparted to 6.0% across the broader survey.
