Citi’s Dan DiPietro and Gretta Rusanow survey current market conditions in the world’s largest legal market
After two years of decreases, expenses began to rise in the first quarter of 2011. With revenue and demand up only modestly and expense increases likely to outpace or at least equal revenue increases, US firms will see continuing pressure on profit margins. They will need to focus on how to grow top-line revenue and – given that we are unlikely to see profits grow at the same level as 2010 – how to manage partner profit expectations for 2011 and beyond.
