Reports Show Growing Divide in Law Firm Revenues

Reports on law firm revenues show a growing divide among firms. Law firm revenue grew by 2.5 percent last year, according to a survey of 180 law firms by Citi Private Bank, the ABA Journal reports. However, the survey found that the top-grossing 50 firms did substantially better than other segments of the market, and global firms with a strong international presence saw the biggest increases in revenue. A different survey of 115 firms by Wells Fargo Private Bank found a divide in law firm revenues last year that ranged from a 20 percent increase to a 21 percent decline, the article says.