Profits growth of more than 5% would be a great year for any big law firm. But a look at the early reports of Am Law 200 financials shows many law firms with eye-popping profit per partner hikes of more than 20%, including at Sidley Austin, Dechert, McDermott Will & […]
Demand
Law firms are looking to push aggressive rate increases in 2022, taking advantage of a climate in which surging demand for corporate work, in particular, has stretched them thin. Few firms have been shy about pushing rates upward in both 2020 and 2021. But industry observers believe there’s still room for more […]
Henry Leckenby, 54, recalls a feeling of scarcity when he first started working as a substitute teacher. Each morning, he jumped on the computer first thing to see which assignments were open that day. Now, he has his pick of jobs he wants to take and schools he wants to […]
Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Today, we look at an industry report that shows how the Big Law market returned to “Golden Era” type demand growth—and how that fueled a labor shortage. Sign up to receive this […]