Am Law 100 Firms Hold Steady as Client Demand Dips

While demand for hours was off in Q1, The Am Law 100 held the line on revenues.

, The American Lawyer


The legal economy got off to a slow start this year, with clients spending 4.8 percent less in fees and paying for 8.8 percent fewer hours in the first quarter of 2014 than in Q1 of 2013. While Am Law 100 firms held the line on revenues, smaller firms were hit particularly hard, showing 9 percent drops.

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Originally appeared in print as A Slow Start in 2014

What's being said

  • Not a lawyer, just a lender

    I think more research needs to be done about the decoupling of the billable hour from revenues billed/collected. Are we witnessing the death of the billable hour as the standard pricing mechanism?

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