Legal News

Citi Private Bank’s Law Firm Group Financial Report for the First Half of 2015
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

financial report

Summary: The overall trend for the financial performance of 177 law firms is positive, although they still aren’t quite to the same levels as last year at this time.

While things are looking better for law firms, they still aren’t up to the results in the first half of 2014. Citi Private Bank’s Law Firm Group financial performance report for the first half of 2015 has been released.

  
What
Where


The start of 2015 was slow but has picked up during the second quarter. There has been an increase in demand and decrease in expenses, providing a relief on the margins. Of the 177 firms that took part, 83 were Am Law 100 firms, 45 were Second Hundred, 49 were boutique firms, and 37 were international.

Revenue is up 3.3 percent but still lower than last year at this time. The demand that drove this number up came around March. Expense growth was at 3.1 percent, lower than the first quarter at 3.9 percent. This can be explained by the fact that bonuses are generally paid during the beginning of the year. Firms have also increased their numbers since there is a bigger demand so the amount in salaries that firms are paying are significantly different from last year.

The operating expenses were up 2 percent due to a higher fee for office spaces, technology, and health insurance. One of the biggest jumps was in inventory up 4.8 percent, the highest increase in six-months since 2011.

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!!




The niche/boutique firms are seeing the best results with an overall revenue increase of 7 percent and smallest increase of expenses by 1.9 percent, giving them a cushy profit margin.

Source: http://www.americanlawyer.com/id=1202734681984/Citi-Report-Despite-Growth-Law-Firm-Forecast-Dims-for-2015



Photo: wkc.org



 

RELEVANT JOBS

Associate Attorney

USA-CA-Berkeley

Intellectual Property law firm in California is looking for a full time, smart, motivated associate ...

Apply now

Paralegal

USA-VA-Leesburg

Law firm in downtown Leesburg, Virginia seeks experienced paralegal for busy litigation practice wit...

Apply now

Supervisory Attorney

USA-DC-Washington

Serves as a manager for attorneys and support staff. Reports directly to the Assistant Chief Counsel...

Apply now

Structured Finance and Commercial Debt Partner (100% work from home)

USA-TX-Houston

Culhane Meadows is actively seeking a commercial and corporate debt attorney with extensive exp...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Junior to Mid-level Real Estate Associate Attorney

USA-FL-Miami

Miami office of a BCG Attorney Search Top Ranked Law Firm seeks a junior to mid-level real estate as...

Apply Now

Mid-level Capital Markets Associate Attorney

USA-CA-Los Angeles

Los Angeles office of a BCG Attorney Search Top Ranked Law Firm seeks a mid-level capital markets as...

Apply Now

Mid-level Capital Markets Associate Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks a mid-level capital markets asso...

Apply Now

SEARCH IN ARCHIVE

To Top