By Justin Henry | December 8, 2022
Philadelphia's top-ranking firms in the Am Law 200 grew revenue and profits by double digits in 2021, reflecting the overall industry's unprecedented levels of demand for corporate and transactional legal services.
By Andrew Maloney | December 8, 2022
"Clients start by requesting an AFA and ultimately ask for a pre-negotiated discount," noted a report this week on the frequent usage of discounting plans.
By Andrew Maloney | December 7, 2022
From shifting head count and leverage to reducing office space and hybrid work, law firms have a variety of options next year to maximize profits and increase efficiencies.
By Andrew Maloney | November 29, 2022
If it used to take 30 days for a payment, it's now taking 60; if it used to take 60 days, it's taking 90, said Citi's Gretta Rusanow.
By Andrew Maloney | November 22, 2022
"We're seeing higher planned rate increases at this point than we've ever seen, and we've been tracking this for 15 years," said a Wells Fargo analyst.
By Andrew Maloney | November 21, 2022
Expectations for a quick surge in profitability appear to have fallen.
The Legal Intelligencer | Analysis
By Justin Henry | November 17, 2022
Firms based in the city outpaced other key legal markets with respect to increases in productivity, profits and inventory during the first three quarters of 2022, compared to the same interval in 2021.
By Andrew Maloney | November 15, 2022
Average law firm net income fell by 7.3% and profits per equity partner was down 8.5% through the first nine months of 2022, according to a new Wells Fargo report.
By Andrew Maloney | November 7, 2022
Big Law equity partners are facing possibly smaller payouts, as firms are under pressure to cut into head count, according to the latest Law Firm Financial Index.
By Andrew Maloney | October 20, 2022
Several firms from the Am Law 100 on down have launched new groups over the last few years to handle more business from colleges and universities.
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