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

Mid-level Litigation Attorney with motions experience


Seattle office of our client seeks mid-level litigation attorney with 3-5 years of experience, inclu...

Apply Now

Environmental /Land Use Attorney with 2-3 years of experience

USA-CA-San Francisco

San Francisco office of our client seeks environmental /land use attorney with 2-3 years of experien...

Apply Now

Litigation Attorney with 2-5 years of insurance defense experience


Jacksonville office of our client seeks litigation attorney with 2-5 years of previous insurance def...

Apply Now

Attorney with 5+ years of complex litigation experience


Detroit office of our client seeks attorney with 5+ years of complex litigation experience. The cand...

Apply Now


Burned Out by Big Law? We Should Talk! Innovative Cloud-Based Firm is Growing in Austin!


Are you a current or former Big Law attorney (refugee?) who\'s feeling burned out, beaten down ...

Apply now

Seeking Tax Partner with Big Law experience and $200k+ portables (DAL, AUS, HOU)


Feeling burned out at Big Law? Culhane Meadows PLLC is one of the largest non-conventional law firms...

Apply now

Associate Attorney

USA-CO-Grand Junction

Small downtown Grand Junction general practice law firm seeks full time associate. Experience in dom...

Apply now


USA-CA-Santa Monica

Paralegal / Entry-Level Junior Attorney position available at boutique entertainment law firm in San...

Apply now

Most Popular


To Top