The American Lawyer’s 2010 Law Firm Leaders Report
Lower Leverage, Softer Profits and More Deequitizations: The New Normal
After two years of turmoil, the nation's largest law firms are settling into a new normal. That's the takeaway from The American Lawyer 's 2010 survey of leaders of Am Law 200 firms, which suggests that many of the changes implemented during the recession—smaller associate classes, postponed start dates for new hires, reductions in the equity pool, and scaled-back profit expectations—are here to stay, at least for a while.
The Law Firm Leaders Report digs into the leaders’ opinions on the current economy, as well as law firm management issues such as billing rates, alternative billing practices, cost reductions and training and staffing challenges.
This report also includes The Client’s View Survey. In September and October, The American Lawyer and the Association of Corporate Counsel jointly surveyed 453 corporate chief legal officers and general counsel. In that group, 128 head departments at companies with annual revenues of $1 billion or more. The Client’s View Survey offers results from those 128 respondents.
2010 Law Firm Leaders Report ($250)