Home

Report: Legal Industry Woes Good for Small Firms
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

The meltdown of the legal services industry, in the wake of the financial meltdown, is hurting biglaw firms as they shed lawyers and clients.

But small firms are grabbing up both those clients and laid off lawyers, according to Australian legal recruitment firm Mahlab.

Smaller practices are using their lower overheads and cheaper hourly rates to win more work from corporate clients, according to the report.

  
What
Where


“Some firms with lower overheads and lower charge-out rates report an increase in new client activity as clients vote with their feet (and their wallets) and move to cheaper firms,” Mahlab says.

“Changes in the legal market offer opportunities to many firms, often in the second and third tier, to ‘cherry pick’ outstanding lawyers who may not otherwise be on the market or open to a call.”

Mahlab’s analysis comes soon after last week’s study of the US legal market that predicted a decline of up to 15% in profits per partner at US firms. That study, by law firm consultant Hildebrandt and Citi Private Bank, predicted more firings at US firms this year as the legal services industry struggles to adjust to falling demand.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Associate Attorney

USA-PA-Exton

ASSOCIATE ATTORNEY McKenna Snyder LLC, a law firm in Exton, PA has an immediate opening for an ex...

Apply now

Attorney

USA-MI-Sturgis

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Attorney

USA-MI-Coldwater

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Deputy General Counsel / Senior Deputy General Counsel

USA-CA-Sacramento

Cal Cities Culture and Mission Cal Cities is dedicated to creating a collaborative and inclusive ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

SEARCH IN ARCHIVE

To Top