As demand fell and expenses rose, profits-per-lawyer dropped 3.6% last quarter, according to a new report.
August 08, 2022 at 05:00 AM
4 minute read
Editorial
The original version of this story was published on The American Lawyer
With demand falling and expenses still surging by double digits, profits-per-lawyer dropped 3.6% last quarter, according to a new report.
The Law Firm Financial Index found that inflation, the competition for talent, office returns, as well as a continuing slowdown in corporate and M&A work, contributed to a second straight quarter of profit decline.
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