Ed. observe: Welcome to our day by day function, Quote of the Day.
We had a pleasant acceleration, and to shut out a reasonably good 12 months, all issues thought-about. It’s pretty much as good because the business has regarded since coming into 2022.
What we’ve heard is the drivers of 2023′s development are nonetheless in place. That provides us a base. And the doubling of expectations into 2024 is extremely pushed by the transactional market.
— Owen Burman, senior advisor and managing director with Wells Fargo’s Authorized Specialty Group, in feedback given to the American Lawyer on the group’s 2023 year-end survey. Wells Fargo discovered that Biglaw’s income development was up by 6% on the 12 months’s finish, up from
4.6% by Q3. As well as, demand was up 0.7% from 0.2%, with customary billing charges at an all-time excessive of 8.3%.
Staci Zaretsky is a senior editor at Above the Regulation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to e-mail her with any suggestions, questions, feedback, or critiques. You’ll be able to comply with her on Twitter and Threads or join together with her on LinkedIn.
