Law firms in the second half of the Am Law 100 are arguably in a tough spot. They’re often not as profitable as those in the Top 50, nor perhaps seen by clients as a bargain like their counterparts in the Second Hundred and beyond.

Yet, in a year defined by faltering demand, the percentage of Second 50 firms that saw a demand increase through most of 2022 is larger than any other segment, according to Citi Private Bank. That pattern actually holds true over the last three years, too, with firm leaders pointing to broad geographic footprints, a crush of midmarket deal work, as well as an increase in nonequity partners as potential factors.