After profits per equity partner dipped by 5.7% in 2022, they climbed by 6.6% in the last year, according to data from Citi’s Global Wealth at Work Law Firm Group.
February 09, 2024 at 04:03 PM
5 minute read
Reporter
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.
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