BigLaw Growth is Dead. Here's What's Next
Feb. 28 (Bloomberg Law) -- The era of ever-expanding revenues and profits for the nation's largest law firms -- a period that lasted from 1980 to 2008 -- is over, and it's never going to happen again, law firm consultant Bruce MacEwen tells Bloomberg Law's Lee Pacchia.
Big law firms are now "in a battle for marketshare," he says. Corporate clients have recognized they have pricing power over firms and "we're never going back." For firms to succeed today, "we're going to require people all up and down the food chain in biglaw to . . . work more hours," MacEwen says.
MacEwen blogs at Adam Smith Esq. (http://www.adamsmithesq.com) and has recently published a book called Growth is Dead.