Biglaw Firms in New York Experience Financial Setback in 2022
TL;DR Summary
Most New York Biglaw firms had a tough financial year in 2022, with only four firms reporting positive revenue growth. Three firms had positive gains in revenue per lawyer, while only one firm saw an increase in profits per equity partner. The financial distress was largely attributed to a decline in transactions and capital markets. Despite this, Biglaw leaders remain optimistic about 2023.
- New York's Biglaw Firms Really Flopped Financially Last Year Above the Law
- NY Firms Come Back to Earth After Record 2021 | The American Lawyer Law.com
- Work slowdown is just one reason for 2022 profit drop among Am Law 200 firms ABA Journal
- This Biglaw Firm's Finances Suffered In 2022, But It's 'Nothing Fatal' Above the Law
- 'Body Blows but Nothing Fatal': With Cap Markets and M&A Down, Cahill Drops 19.5% in Revenue | The American Lawyer Law.com
Reading Insights
Total Reads
0
Unique Readers
15
Time Saved
2 min
vs 3 min read
Condensed
85%
430 → 63 words
Want the full story? Read the original article
Read on Above the Law