X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Photo: Diego M. Radzinschi/ALM

Economists are increasingly gravitating to the concept of a “K-shaped” recovery following the steep plunge of the early days of the coronavirus crisis. With a slight tweak, that “K” may well serve as a useful depiction of law firm profitability in 2020: just add a horizontal third line at the center.

Nearly six months after the arrival of COVID-19 in the United States forced the shutdown of wide parts of the economy, it’s become apparent that the law firm world, as a whole, has managed to avoid the worst of the pain. Firms’ operations have largely been unhindered by the abrupt shift toward remote work, and while demand has dipped, it hasn’t cratered. In a growing number of firms, austerity measures have proved to be temporary, as staff, associates and partners alike are seeing compensation restored.

This premium content is reserved for
Law.com International Subscribers.

BENEFITS OF A SUBSCRIPTION INCLUDE:

  • Customized news by region including UK, Asia, Europe, Latin America, Middle East, Africa, and North America
  • Cutting-edge research such as UK Top 100, China 45, and Asia 50
  • Get the inside track on the biggest breaking stories that delve deep into the issues behind the headlines
  • Comprehensive coverage of the dynamic legal market from people moves to the major international jurisdictions
  • Global view into how legal tech, business of law, in-house and regulatory environments are intersecting worldwide

Already a subscriber?

Dan Packel

Dan Packel covers change and innovation in the legal services market, and writes a weekly briefing for Law.com, "The Law Firm Disrupted," on these subjects. He is based in Philadelphia. Contact him at [email protected] On Twitter at @packeld

Law Firms Mentioned

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

Law Firm Partnership AgreementsBook

This book tackles the key life events of a law firm partnership formation, setting compensation, partner admissions and departures, retirement, dissolution, term...

Get More Information
 
 

Law.com International Newsletters & Briefings

Sign Up Today and Never Miss Another Story.

Sign up for an unlimited number of complementary newsletters, alerts, and International Briefings. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 American Lawyer Media International, LLC. All Rights Reserved.