The legal industry has experienced revenue growth through the first three quarters of 2018, as demand and billing rates grew at a level that outpaced an increase in expenses and created a wider profit margin for many firms, according to a new survey from Citi Private Bank’s Law Firm Group.
Citi Private Bank on Wednesday released high-level results and takeaways from a law firm advisory services 9-month flash survey that painted a largely positive picture of the legal industry’s business results so far this year. The survey drew on participation from 190 law firms of varying size—44 Am Law 50 firms; 35 Am Law 51-100 firms; 51 Am Law Second Hundred firms; and 60 others—a group that includes boutique and niche firms.
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