TBA Law Blog


Posted by: Paul Burch on Dec 5, 2023

A survey by consultancy Withum Smith+Brown found that leading law firms are less bullish heading into 2024 than they were coming into 2023, reports Law.com. About 42% of respondents said increased salary demands posed a risk to their cash position. The report also found more than 48% expected overhead to rise in 2024, compared with 27% in 2023. Even before top law firms began adopting salary increases, the outlook was already described as “tepid” and “volatile.” Legal industry analysts noted high billing rates may have helped firms stave off further cuts next year.