Another Source: 2016 Just An OK Year for Biglaw

The Citbank/Hildebrandt assessment of the first 3 quarters of 2016 is consistent with Well’s Fargo’s, which was the subject of our post 2 weeks ago.

Demand for Biglaw legal services is essentially flat (+0.3%); revenue was up 3.8% but only because of rate increases; and lawyer productivity is down.

Underlying data comes from surveys of 41 Am Law 1-50 firms, 35 Am Law 51-100 firms, 53 Am Law 2nd 100 firms, and 76 additional firms.