The legal industry saw profitability resume its growth in 2023, with law firms increasing average revenues by 6.1% in the last year, outpacing expense growth of 5.6%. Ultimately, profits per equity partner grew by 6.6%, according to researchers at Citi’s Global Wealth at Work Law Firm Group.

That’s good news, especially when compared with a 5.7% PEP decline in 2022.