Business of Law
Revenue per lawyer jumped more than 8 percent at larger law firms in 2012
Posted Jul 29, 2013 8:00 AM CDT
By Debra Cassens Weiss
Revenue per lawyer is up at large law firms and down at small firms.
Revenue per lawyer increased 8.5 percent last year at law firms with more than 150 lawyers, according to the Survey of Law Firm Economics by the National Law Journal and ALM Legal Intelligence. At firms of one to nine lawyers, on the other hand, revenue declined 8.1 percent. The National Law Journal reports on the findings.
Overall revenue per lawyer was up 1.1 percent at surveyed law firms, compared to a 4.3 percent decline the prior year.
Law firm consultant Peter Zeughauser told the NLJ that the survey indicates a "recovering economy that is tolerating some rate increases." Larger law firms are becoming "more tightly managed," he said, partly by laying off underperforming lawyers.