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Firm Costs To Outpace Revenue In '09: Study

Law360 (February 19, 2009, 12:00 AM EST) -- Despite taking aggressive steps to drive down costs, law firms are expected to see their expenses outpace their revenues this year, according to an economic index of law firm market performance.

Peer Monitor, a digital benchmarking program, predicted in a February report that law firm expenses will increase at a faster rate than revenues, causing net income across the industry to decline 5 percent to 15 percent compared with last year.

However, it said firms that made major cost-cutting measures in 2008 and continue them this...
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