Report: The Boom Years Are Not Coming Back, Get Used to It

An advisory released Monday by Citi Private Bank's Law Firm Group and Hildebrandt Consulting lays out a changing law firm landscape—one that sees partners billing fewer hours, associates occupying a shrinking number of positions, and leaders acting more like businesspeople than lawyers.

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What's being said

  • Albert Davenport

    Attorneys possess many skills that can be transferred to other fields such as the ability to write clearly and concisely, manage risks and handle difficult people. Keep an open mind about opportunities that arise.

  • James M. Grandone

    Effective law-firm marketing is now more important than ever. It is no longer wise to throw money at social media in the hope you will be "found." Law firms need to follow dependable marketing strategies in order to win business. These include public relations to heighten awareness of your firm's expertise, establish a positive reputation and create interest among prospects. Advertising to maintain awareness. Most of all, lawyers need one-o-one "face time" with prospects in networking environments.

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