Free Market Evaluation - Send us your resume and we will give you free feedback
University of New Mexico Law School Reveals Higher Employment Rates
University of New Mexico Law School Reveals Higher Employment Rates
Tentative Settlement Reached with Uber for Family of Killed Girl
Tentative Settlement Reached with Uber for Family of Killed Girl
Washington, D.C. Attorney Arrested for Child Porn Allegations
Washington, D.C. Attorney Arrested for Child Porn Allegations
DaVita Agrees to $450 Million Settlement for Overcharging Government
DaVita Agrees to $450 Million Settlement for Overcharging Government
Legal Job Listings
Download PDF

Report Says That Strong Years in Legal Industry Not Returning View Count: 80

Hildebrandt Consulting and Citi Private Bank’s Law Firm Group have released a report that stresses law firms need to accept single-digit revenue growth as the new normal, according to The Am Law Daily. The report says that partners are billing fewer hours than prior to the recession while they continue to invest more in their firms with capital contributions. Associates are part of a smaller salaried attorney position group too.

What

 job title, keywords

Where

 city, state, zip



The authors said that firms “can no longer rely on a rising tide that lifts all boats. In fact, the tide is out.”

From 2008 to 2012, the demand for legal services dropped by an average of 0.4 percent. There was an increase of 3.7 percent from 2004 to 2008.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




“With too many lawyers chasing too little work, pressure from clients to provide discounts and other forms of pricing concessions has become a fact of life in the current market,” the report said.

Gretta Rusanow, a senior client adviser for Citi Private Bank’s Law Firm Group, said that firms have to find a niche practice area that client do not want to bring in-house and that other firms have not found yet. The average hours per lawyers has dropped to 1,641 in 2011, down from 1,742 from the years of 2001 to 2007.

The report said that the good times from 2001 to 2007 was not the norm: “We think it is time to let go of any lingering notion that the industry will revert to the boom years before the Great Recession any time soon.”

Report Says That Strong Years in Legal Industry Not Returning by

Tagged: , , ,

Posted by on January 15, 2013. Filed under Home. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Assistant General Counsel
USA-MO-Saint Louis
Title: Assistant General Counsel   Employer: American Association of Orthodontists Location: St. Louis Compensation: Salary Travel Requirements: Moderate; domestic. Contact: Sen...


Apply now

Related Posts: