Firm Expenses Outpaced Growth In 1st Half Of 2013: Survey

Law360, New York (August 19, 2013, 4:05 PM EDT) -- Law firms’ operating and compensation expenses continued to outpace revenue growth as demand for legal services remained tepid in the first half of 2013, highlighting what remains a bleak outlook for legal industry, according to a survey released Monday.

The Citi Private Bank "Law Watch" Quarterly Flash survey recapped a first half of 2013 during which law firms experienced modest 0.5 percent revenue growth that still trailed the 2.4 percent increase in their operating and compensation expenses. While the 0.5 percent revenue growth is comparable to...
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