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Law Practice

Feb. 8, 2014

Survey: Firm revenue growth exceeded expense growth in 2013

Law firm revenue growth exceeded expense growth last year, due in part to higher billing rates, according to the results of Citi Private Bank's full year legal industry survey for 2013.

By Alexandra Schwappach
Daily Journal Staff Writer

Law firm revenue growth exceeded expense growth last year, due in part to higher billing rates, according to the results of Citi Private Bank's full year legal industry survey for 2013. The study, released Thursday, revealed that law firm expenses were lower in the 2013 fiscal year than in 2012. Expenses were driven primarily by growth in compensation packages and not by operating expenses. Total lawyer headcount increas...

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