The Citi Report Estimates 2011 to be a “not bad” Year at 3.3 Percent Growth
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

The Citi Report on the financial growth of law firms in 2011 indicates about a 3.3 percent growth, which is so-so compared to the previously bountiful 2010 (7.4 percent) but better than 2009 and before.

The report is based on a sample of 178 firms (81 Am Law 100 firms, 47 Second Hundred firms, and 50 others) of the 600 U.S. and U.K. law firms and 35,000 individual lawyers Citi Private Bank works with. They saw two segments in 2011: the first six months showed an increase in demand, but the last six months showed a stark decrease. The 3.3 PPEP (profits per equity partner) does not seem that warming, but Citi sees it as the new norm for a while to come.

Rate increases grew faster than the previous two years, which is still beyond what we saw years ago, and they had a sense that realization was in decline.


Head count growth was marginal, mostly affecting Am Law 1-50 firms, but it was still faster than demand, lowering productivity to an average of 1,642 hours per lawyer, well below historical norms.

Overall, the growth was slow, but in the right direction, not bad, and a marker for what to expect in the immediate future.

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!!


Interesting Legal Sites You May Like




Search Now

Litigator with 5-10 years of general insurance defense experience

USA-FL-West Palm Beach

Boutique litigation firm is looking for an experienced litigator with 5-10 years of general insuranc...

Apply Now

Transactional Real Estate Attorney with 4-10 years of experience

USA-CA-San Diego

San Diego office is seeking a transactional real estate attorney with 4-10 years of experience.

Apply Now

Real Estate/Business Transaction Attorney with 8+ years of experience


Seattle office is seeking a real estate & business transaction attorney with 8+ years of experience....

Apply Now

Senior Attorney with municipal law and/or tax appeal experience


Boonton office of our client seeks senior attorney with municipal law and/or tax appeal experience. ...

Apply Now


Associate Attorney


We are seeking an experienced Personal Injury Attorney with plantiff-oriented experience. This is pa...

Apply now

Legal Assistant


Type, proofread and file pleadings and motions in state and federal court.  Organize and mainta...

Apply now

Attorney Recruiting Manager (West Coast)

USA-CA-Los Angeles

ATTORNEY RECRUITING MANAGER Office: San Francisco or Los Angeles, California Headquartered in ...

Apply now

Estate Planning Paralegal


Reynolds Law LLP has an immediate opening for an experienced Estate Planning Paralegal in our Vacavi...

Apply now

Most Popular


To Top