Credit: Hurca!/Adobe Stock 'Across-the-Board' Cost Increases Are Prompting Law Firms to Alter Talent, Billing Calculus
Some law firms are pausing their promotions of senior associates to partner, and they're telling senior associates to be patient, said Laura Terrell, an executive coach and consultant.
November 03, 2023 at 05:00 AM
5 minute read
Law Firm Profitability
The original version of this story was published on The American Lawyer
Although the inflation rate is down, law firms are still fighting "across-the-board" cost increases, including for talent and technology, as well as overhead costs for occupancy. Those costs are expected to have an outsize influence on law firm operations going into 2024.
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